Old Range Trend Based Fib Extension:
An idea based on previous range when price was at 50k. Notice fib levels from fib extension pulled from A to B to C how the levels were respected.
New Range Trend Based Fib Extension:
New range = Trend Based Fib Extension from Higher High to the range low and then to the lower high. Notice the fibs how they are respected!
Fib Speed Resistance Fan:
Also, pulled out the magic Speed Fan resistance, the old trick from the hat (thanks to Chart Champions). Fib Speed Fan Pull A to Fib Speed Fan Pull B. 0.75 always a massive support! Currently at 0.618 support.
Decending Triangle:
Bullish no doubt, the descending triangle pattern. Seems well respected now at the possible bottom.
Just an idea. Happy trading. :) Using Fibs in this example as a guide.
Just looking at this in hind sight. That bloody 0.382 at the top of both ranges that once lost seems a big one for down side. BUT, seems when reclaimed, its another story! :) (wink wink)!
An idea based on previous range when price was at 50k. Notice fib levels from fib extension pulled from A to B to C how the levels were respected.
New Range Trend Based Fib Extension:
New range = Trend Based Fib Extension from Higher High to the range low and then to the lower high. Notice the fibs how they are respected!
Fib Speed Resistance Fan:
Also, pulled out the magic Speed Fan resistance, the old trick from the hat (thanks to Chart Champions). Fib Speed Fan Pull A to Fib Speed Fan Pull B. 0.75 always a massive support! Currently at 0.618 support.
Decending Triangle:
Bullish no doubt, the descending triangle pattern. Seems well respected now at the possible bottom.
Just an idea. Happy trading. :) Using Fibs in this example as a guide.
Just looking at this in hind sight. That bloody 0.382 at the top of both ranges that once lost seems a big one for down side. BUT, seems when reclaimed, its another story! :) (wink wink)!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.