WestClintwood

WestClintwood

Due to the fact that the current prices have large previous transaction volumes we are held tightly to narrow swing ranges. When previous order volume on the price scale is removed, price will move faster up and down the scale looking for support. Lack of price history allow for larger price movements and retracements. Notice the zones highlighted in this chart...

WestClintwood

Notice the Fib 0.3, the Orange POC and 0.618, as well as the 0.786 for support and targets

WestClintwood

Based on volume profile and fibs I have provided a level of support and a few targets to the upside. You can expect strong movement between fib 0.2 and 0.3 as well as a retest of 0.618.

WestClintwood

Based on previous price action between May 2021 to May 2022 there are clear lines of support and resistance. Beware of the gaps where price will move quickly.

WestClintwood

My recent fascination is the art of choosing the fib anchor that will determine the scale of the multiplier targets upward and the .786 retracement/support