Flipped Resistance to Support from previous Trend Based Fib Extenstion as seen here:
Currently bouncing off the 1.0 fib which to left was a support, middle resistance, now support!
Taken the value area range of the initial Trend Based Fib to the current price and if you zoom out, the PoC of the Fixed Range Volume Profile is pointing to 0.5 Trend Based Fib.
Above resistance labelled.
I see no reason from writing, as long as we hold 1.0 fib to see higher, even after +10% rise already!
Technicals are bullish. Thats what they are.
There's also a parallel channel which seems to be well respected. As well as a possible end 5 wave extension found here:
That Gartley - I knew from previous bounces. When B AND D have a reaction at the same price
- SUPER BULLISH!
We had a fake out at the high, then came back down to B at 0.5 fib Gartley and rallied!
Enjoy! :)
Currently bouncing off the 1.0 fib which to left was a support, middle resistance, now support!
Taken the value area range of the initial Trend Based Fib to the current price and if you zoom out, the PoC of the Fixed Range Volume Profile is pointing to 0.5 Trend Based Fib.
Above resistance labelled.
I see no reason from writing, as long as we hold 1.0 fib to see higher, even after +10% rise already!
Technicals are bullish. Thats what they are.
There's also a parallel channel which seems to be well respected. As well as a possible end 5 wave extension found here:
That Gartley - I knew from previous bounces. When B AND D have a reaction at the same price
- SUPER BULLISH!
We had a fake out at the high, then came back down to B at 0.5 fib Gartley and rallied!
Enjoy! :)
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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.