Applying Fibo Retracement 3 times allows me to know some interesting support levels.
At (i) level, after applying 1st Fibo Retr, the 69.8% level (1455.2-) is very significant, because it appears as 100% level for the 2nd Fibo (ii), and as 161.80% level while applying the 3rd Fibo (iii) . (It could be explained by the increasing trend respecting Fibo level).
The Same thing for 38,2% level in Fibo 1, who becomes 61.8% level in Fibo 2, and a 100% in Fibo 3.
Well, here I see 3 actions:
Action 1: If we reach the level of 1701.25, there is a huge mathematical expectation to win again the actual major Resistance of 1748.25.
Action 2: if we reach the level of 1679.07 with a big Volume, both 1636.33 and 1567.15 levels could probably be attained.
Action 3: Both Action 1 and 2 are reached, to get a a double bottom at 1636.33 level and then a breakout and trendReversal at 1679.07 in order to search for a 1800 level for next months.
At (i) level, after applying 1st Fibo Retr, the 69.8% level (1455.2-) is very significant, because it appears as 100% level for the 2nd Fibo (ii), and as 161.80% level while applying the 3rd Fibo (iii) . (It could be explained by the increasing trend respecting Fibo level).
The Same thing for 38,2% level in Fibo 1, who becomes 61.8% level in Fibo 2, and a 100% in Fibo 3.
Well, here I see 3 actions:
Action 1: If we reach the level of 1701.25, there is a huge mathematical expectation to win again the actual major Resistance of 1748.25.
Action 2: if we reach the level of 1679.07 with a big Volume, both 1636.33 and 1567.15 levels could probably be attained.
Action 3: Both Action 1 and 2 are reached, to get a a double bottom at 1636.33 level and then a breakout and trendReversal at 1679.07 in order to search for a 1800 level for next months.