TSM heads up at $149.07: Golden Genesis fib and maybe "a" top

EuroMotif Mod Updated   
BATS:TSM   Taiwan Semiconductor Manufacturing Company Ltd.
TSM at new highs but up against a Golden Genesis fib at $149.07
Sister golden fibs below have been very relevant to price moves.
What happens here will give clues to the ongoing trend strength.

It is PROBABLE that we "orbit" this fib for some time.
It is POSSIBLE that we have "topped" for now or forever.
It is PLAUSIBLE that we "flip" into support and keep going.

( ( (( PING )) ) )
"Ping" = exact and violent ricochet from fib that you can almost HEAR.


Blow Off Top?
Spiked above our golden fib and then immediately fell back below

Zoom in (h1) with some notes:
Looks like we are headed lower,
was unable to retest golden fib,
first support fib already spent.

Zoom out (h2) and possible ABC's
So we have two targets of interest,
$127.90 and $114.80 first guesses,
being Semi=Major ratios so stronger.

So we watch for break of $135.97 next.


$135.97 broke and first target hit, $127.90 exactly as expected

Zoom in (m1)
Dropped to the fib and was orbiting it into Friday close.
Lets see what the new week brings, maybe a little bounce.

I DONT think the ABC is done yet,
but reaction here will be telling.



the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.