Short
United Airlines - Coincidence or the magic of Fibonacci?
Hey guys, I'm sure many of you heard about the United Airlines incident which is all over the media.
I had some time to spare today and I decided to check out the charts of the company.
This is my observation
Pattern Identification
Bearish shark completes at $75.
If one were to trade UAL based purely on harmonic patterns.
EP: $75
SL: $83
TP1: $57
TP2: $41.65
The value zone to buy low for UAL will either be at $57 or $41, depending on whether there is a nice bounce off the RSI OS zone.
This makes me really question the effectiveness of Fibonacci numbers, are these numbers really that magical or could it be just a coincidence?
I had some time to spare today and I decided to check out the charts of the company.
This is my observation
Pattern Identification
Bearish shark completes at $75.
If one were to trade UAL based purely on harmonic patterns.
EP: $75
SL: $83
TP1: $57
TP2: $41.65
The value zone to buy low for UAL will either be at $57 or $41, depending on whether there is a nice bounce off the RSI OS zone.
This makes me really question the effectiveness of Fibonacci numbers, are these numbers really that magical or could it be just a coincidence?
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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.