Fibonacci fan has worked well in the last decade providing resistances and supports for the DJI in the long run. But noooooow, the May candlestick closed just on the resistance and indicators are not in favor. In the following days, maybe starting from tomorrow, we are going to watch a first correction and a red candle by the end of June. Now way it can be still skyrocketing, economy is crippled at the moment. So to those who already in, get your gain e go away.
Trade active
⋅
Step 1: Biggest drop since March crash. Last weeks rally was based on false hopes and FOMO. Did we really believe it was due to a prospering economic background? SMH! as you can see in the chart, Fibonacci fans on the monthly data never lie!. The only thing that can prevent the market go go down deep is a vaccine. FED is not!