Hello.
1st Resistant at fibo 0%
2nd Resistant at fibo 23.6%
3rd Resistant at fibo 38.2%
4th Resistant at fibo 50%
231 bars / 140 bars =1.65
140 bars / 83 bars =1.69
1.69-1.65=0.04
Then in propotion 83 bars / X bars =1.69 + 0.04=1.73 =>X=48 bars
But in 48 bars we should have a lower high than the previous and that we have is a low spot.
If we assume that numbers tell the truth the only way to be this low spot a NEW high is when we enter a new decline stage with lower highs in a downtrend rallie.
Did numbers tell the truth????
Do you believe in numbers??
We will see.
Thanks and good trades.
1st Resistant at fibo 0%
2nd Resistant at fibo 23.6%
3rd Resistant at fibo 38.2%
4th Resistant at fibo 50%
231 bars / 140 bars =1.65
140 bars / 83 bars =1.69
1.69-1.65=0.04
Then in propotion 83 bars / X bars =1.69 + 0.04=1.73 =>X=48 bars
But in 48 bars we should have a lower high than the previous and that we have is a low spot.
If we assume that numbers tell the truth the only way to be this low spot a NEW high is when we enter a new decline stage with lower highs in a downtrend rallie.
Did numbers tell the truth????
Do you believe in numbers??
We will see.
Thanks and good trades.