DislikedA possible extra range fib to consider, the entire two day long move of the past 2 days has a fib trading zone sitting right beneath the current trading zone from yesterday's range, which may help provide resistance if price enters today's trading range and tires to break short of it, it might bounce due to the longer two day range long fib. If price can break short of today's trading zone (and fall into the past 2 day's combined trading zone) then this zone may inhibit today's short from going beyond the current Intraday Low (yesterday's low around 320) so I would target yesterday's low more heavily than yesterday's T1 around 280, expecting a bounce from 320 if it does go that low.
The oval is the past two day's retracement zone, the rectangle is the current intraday zone.Ignored
- | Joined Oct 2007 | Status: Nomad | 1,144 Posts
"Support and Resistance either holds or it doesn't."
-Anonymous hillbilly
- | Joined Oct 2007 | Status: Nomad | 1,144 Posts
"Support and Resistance either holds or it doesn't."
-Anonymous hillbilly
- | Joined Oct 2007 | Status: Nomad | 1,144 Posts
"Support and Resistance either holds or it doesn't."
-Anonymous hillbilly