A long time ago I watched a trading video by a guy who really impacted the way I view the market. He talked about how there are magnets. (Points where price is drawn to and then rejected from-like a magnet.) To me it makes sense not just in the sense of market maker and large players having key levels they will defend and target. It also makes sense from more of a ...
Rejecting off the EMA but seems the pace of the drop is slowing down. (at least for another bear flag.) We're starting to get some bullish divergence on the RSI. The arrows represent the hopium of my shattered dreams.
Quicky lesson article. One time I had a guy ask me to just give one example of Fibonacci working. This guy claimed to be a money manager or something like that. He said it was all hokus pokus. I showed him a chart with like a hundred examples. Never heard back from him.
So anyway point is they work. I won't go into the mathematical basis (because I'm stupid) but ...
Putting out my analysis. Mostly because it's easy for me to review them in future this way. I do this shit because I love it. If you don't appreciate noone is forcing you to read it.
(Not hating on .618 even though it might seem like I am.) :-)
Thanks for reading. Have a ___ day.