I posted a more complex analysis in previous post.
Holding the 2.618 rather well. I expect another liquidation down possible even below that support region - lets watch and see once more leveraged longs start opening again. This is the usual pattern for large market corrections (3x) large liquidations to make sure amateur retail hopes and dreams are killed and wallets emptied before finally reversing and heading back up from annihilations while leaving the unwise traders to kick dust.
Learn to hedge both directions at all times.
Holding the 2.618 rather well. I expect another liquidation down possible even below that support region - lets watch and see once more leveraged longs start opening again. This is the usual pattern for large market corrections (3x) large liquidations to make sure amateur retail hopes and dreams are killed and wallets emptied before finally reversing and heading back up from annihilations while leaving the unwise traders to kick dust.
Learn to hedge both directions at all times.