Update from previous idea:
several things have happened since the last update and I was out yesterday so never managed to do an analysis yesterday. I am going to analyse this chart with the same fib and then put another post up with it updated I think we have a new swing high and low for short term so I will see if anything can be made of this.
firstly the fib didnt hold as well as I thought it would. we broke the key support at the 0.236 but failed to see a volume break of this level, still enough to SL many traders im sure. then we seen a bounce back and have retraced nicely through the fib, yesterday was quite a good day to miss because it was a green day no panic, just let the money come in.
this yellow line has been broke a couple times so I do not trust it 100%, we have seen a lovely bounce off it last night and price is starting to fall again around the golden pocket, would like to see consolidation/ a bounce here and chase the previous high.
I will be posting a 1hr timeframe analysis as well and that chart has played out really well, take a look at that!
several things have happened since the last update and I was out yesterday so never managed to do an analysis yesterday. I am going to analyse this chart with the same fib and then put another post up with it updated I think we have a new swing high and low for short term so I will see if anything can be made of this.
firstly the fib didnt hold as well as I thought it would. we broke the key support at the 0.236 but failed to see a volume break of this level, still enough to SL many traders im sure. then we seen a bounce back and have retraced nicely through the fib, yesterday was quite a good day to miss because it was a green day no panic, just let the money come in.
this yellow line has been broke a couple times so I do not trust it 100%, we have seen a lovely bounce off it last night and price is starting to fall again around the golden pocket, would like to see consolidation/ a bounce here and chase the previous high.
I will be posting a 1hr timeframe analysis as well and that chart has played out really well, take a look at that!
