This is the footprint of the bigger money that move the market. Price is always seeking value between buyers and sellers.
The central control line in the value area is where the most trading takes place, it's like a magnet to price.
Price moves from one value area to another.
Trade the edge of the value area back to the control line.
Interesting to see where this goes. Possible purchase of Arcadia - fundamentals aren't too bad despite high debt. Be interesting to see if there's a reversal.
This chart is a typical example for trend and correction that finished in 50-61.8 fib ret and now i am waiting for this breakout and entry to new uptrend
The company is listed on London Stock Exchange shows amazing respect for Fibonacci levels. The selloff after reaching all-time high in December 2015 made 2 touches on the 61.8% retracement level.
The retracement starting from the all-time high to the low of the selloff is now also showing the stock price respecting all Fibonacci levels. Making 3 touches on the 38%...
Last post: June 10th. See chart .
Review:Price was approaching the area of resistance.
Update: Price has hit the resistance level but has since started to head down.
Conclusion: We need to stand aside and be patient until price can break through the resistance level.
Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you...
My views are my own and should not be considered as trading advice
Okay where to start, I know many are not a fan of the fib tool, but sometimes, well lets say it's useful
Next is on a current uptrend (fact) and (now fiction) using fib and a current support trend line 7060 seems to indicate a level of resistance, if 7060 becomes support/or is broken then yes i...
