Spekulatius

Recent crash shows Fibonacci Retracements textbook style!

MTGOX:BTCUSD   Bitcoin / U.S. Dollar
217 0 0
This is how you use this chart:
1: Click "Make it Mine" button on the right hand top corner.
-Right click in the chart>Object tree>Click the "Eye" button of the top Fib retracement
- Now see that the first drawback (marked with a flag) corresponds nicely with the 0.618 mark of the Fib Retracement of the first swing, the second drawback corresponds nicely with the second swing (see second Fib retracement from the top in Object tree), and so forth
- Usually this doesnt play out so cleanly in practice, the smaller the swings the more "noise" (or variance) takes over but in this case it worked out fine.
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