As you can see using Fib the areas that we can possibly retrace to are also the 2 areas where there are future gaps in the charts. At about a 40% correction from the top takes us back down to the 8.5k-ish area.
The other area is more extreme because it implies that we'll be correcting almost 48% all the way back to fill the first Gap on our chart which happens to be at about 7.240k .
Just my opinion on the subject.
The other area is more extreme because it implies that we'll be correcting almost 48% all the way back to fill the first Gap on our chart which happens to be at about 7.240k .
Just my opinion on the subject.
Trade active:
Getting closer and closer to my target. At this time I believe the 8.5k gap will be filled and we'll find support then move back up to continue our uptrend. I do not believe the lower gap will be filled at this time but will watch the market closely and update as needed. Follow me if you like.