After a steep correction - looking to the upside
I ran my Fibonacci retracement and trend extension analysis and here's what I'm seeing...
After retracing almost 100%, we look like we're bouncing off the bottom and starting to crawl our way on to the next target of ~15 (Fibonacci 1.618).
I think I'll be taking some profit when we get to ~13-14 (Fibonacci 1.272/1.414) range and then close out the position when the target is reached.
After retracing almost 100%, we look like we're bouncing off the bottom and starting to crawl our way on to the next target of ~15 (Fibonacci 1.618).
I think I'll be taking some profit when we get to ~13-14 (Fibonacci 1.272/1.414) range and then close out the position when the target is reached.
I'm not a financial advisor and I'm not offering financial advice. Everyone should do their own homework before making any decisions!
Good luck and I'm always interested in what you think.
Good luck and I'm always interested in what you think.
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