LuisVelazco
Short

NASX may continue it's drop

INDEX:NASX   Nasdaq Composite
186 4 0
The NASX             bounced off of FIB Retracement 1.618. If bounce doesn't hold , the next most likely stop will be $4040 for another attempt at a bounce. If I understand this pattern correctly the Butterfly pattern will still be valid as far down as FIB 2.618. If I'm wrong feel free to comment.

I like using multiple Fibonacci Retracements because at different lows because where the Ratios line up usually forms a stronger resistance or support area .

Comments are always welcome.
nice, like this one ... i think in the end somewhere 4000 is where we'll look back and say that was our footing
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LuisVelazco IanLipner08
Hey Ian!
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You may not know it but you stumbled across something .....in regards to fib replacements when they lined up.........do the same with Gann angles off significant lows.....
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LuisVelazco mike.lawler.969
Thanks I'll look into it!
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