Here we see fib extensions from the date 27/12 to 05/02 and 08/02 and a visible
When you look at the chart, you see the price drop from the 1,618 fib level while its obvious that we are trading in a low area and most of the orders have been and is placed at a much lower price.
I also posted this on the 8th of July without noticing the fib levels:
I managed to close my short trade in profit, and booked some small profits trading intraday. it took some time for the market to retrace but finally markets came to where i had suspected it to go, based on order flow the particular days when this market was dropping, which you can see clearly here in another trade from 11th of July:
Overall: Im looking to take profits around the 100% fib extension line (12k zone) and potentially waiting for the markets to retrace from that point, seeing that we got a heavy flow of orders laying in that area.
Please feel free to comment
God bless you
We see some divergences on the smaller 1h timeframe, also noticing the small amount of volume at this particular area... great time to get in