@likeyou you are a Wizard bro... Congrats.. Awesome... The correction Although I still pair XBTEUR is occurring a correction at this time that is consistent with your graph exposed in this idea that you shared. Correction happens now
Like2Move
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@m0n0lithic, Thanks, mate. I wish you creativity and success in applying insights.
@usra, You need to know what is a resistance, support. Knowledge of many other terms also recommended. In this case, a price correction may occur on the resistance.
usra
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@Like2Move, Yeah, I've been spending time daily on learning these basics, but of course it's a lot of practice to get right. I was basically trying to understand why you have all these fib levels and how you co-relate them to get a conclusion. Any pointers?
Like2Move
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@usra, A lot of practice is needed to understand, see the components of the movement. Here in this post you can see that I've provided samples in two timeframes. The phenomena are complex and one needs to understand that large movements, and at the same time, are smaller inside them. Because of this, I use not only a fib retrace, but a few. And other tools at the same time. You need to get acquainted with Elliot Waves. Getting knowledgeable, like anywhere else, will require a lot of hours of work and patience.