Quick update to map upcoming resistances.
Bounce thus far looks reasonably strong.
What happens at the resistances above is key.
$ 6359-6418 is immediate resistance, possible end of small order wave.
$ 6839-6969 will be pretty strong resistance, likely end of this leg.
$ 7198-7278 is maximum expected, assume we get past 7k round.
My previous charts catching every key turn and giving early warnings (click the links below):
3.8k Bottom Ping
7.7k Retrace Target
10.5k Top call
9.7k Bounce <= mapped within $10
8.2k to 10k wave 5
9k barrier Foretold <= Warning in Time
8475 Top Call <= Mapped within $5
Sub 7k Foreseen
Big Picture Fibs <= the 3 Fibs of Life
14k target call <=Perfect TP
3.1k bottom call <=EXACT 2018 bottom
Of course, I have had total FAILS on some ideas too, not going to pretend.
But all of my plots show PRECISE entries, TIGHT stops, and EXACT targets.
Precision is the way of the Fib. Almost every turn happens at a Fib Line.
Price action exactly as expected thus far Now at that 2nd resistance just hosrt of 7k.
That is a double fib, which make for strong and precise boundaries.
Measuring the pullback now for any clues on outlook.
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I look for an "Impulse" (clear directional move for limited duration) which then creates "Ripples" (fib multiples). Then I need to see "Pings" (clear reaction) to the first couple of extensions like 1.236 or 1.618, or at the latest 2.618 for strong moves. If I get 2 such confirmations, I know the Impulse id was good, and can count on the rest of the extensions until they stop reacting.
Thus I try to map each Impulse and its ripples, and then look for confluences between various fibs.
But I had written it off as not being relevant any more, until the pings at recent bottom..
Also, that Impulse had rejected twice from its "Core" (0.382-0.618) and the bottom pings confirm its continued influence