Looking at my charts the orange lines represent Friday's closing range which is based off the High and Low of the last 5minute candle of that day. The red line represents previous lower high, and the green line represents the previous lower low. Placing the fib retracement on the most recent highs and lows/vice versa of the current trend we can determine where interest is. Above 50 percent bears are interested, below 50 bulls are interested. Price is still trading below previous day close/yellow line 0.16351.
We need A break below range and price to go way below 50 on the fibbanaci for a buy.
We need A break below range and price to go way below 50 on the fibbanaci for a buy.