The Fibonacci Hitchhiker's Guide To The Financial Galaxy
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Hello traders 👋
Today I want to share what i hope will (continue to) be important and respected zones for price action in the future using a fibonacci technique.
Fibonacci has been placed from the bottom of the GFC. (the great financial crash of 2008/09 which reached a low of ⁶⁶⁶ just like soros wanted 👻)
Current price using technical analysis:
I see a bounce from this area based on several different technical analysis methods. We have a few different reasons for the possibility, probability and plausibility of this region being an area of support. This does not mean we develop support and soar to new ATH. We are in testing times in the global climate and things are heating up.
If this becomes another false bounce and we break below this region I will be looking to 11000 on nasdaq 3600 on spx (or spx500usd more like) which I believe would be another great buying area.
The reason for this idea is not to be seen as a trade signal. I merely wish to share just one of the many tried and tested trading techniques. I hope that in the future it can be used as a guide to possible areas of both support and resistance.
spx500usd nq1! es1! BTCUSD xauusd
Please like and share if you see these fibonacci lines become areas of reaction with price action in the future.
Comments???
Leave a comment that is helpful or encouraging. Let's master the markets together
Today I want to share what i hope will (continue to) be important and respected zones for price action in the future using a fibonacci technique.
Fibonacci has been placed from the bottom of the GFC. (the great financial crash of 2008/09 which reached a low of ⁶⁶⁶ just like soros wanted 👻)
Current price using technical analysis:
I see a bounce from this area based on several different technical analysis methods. We have a few different reasons for the possibility, probability and plausibility of this region being an area of support. This does not mean we develop support and soar to new ATH. We are in testing times in the global climate and things are heating up.
If this becomes another false bounce and we break below this region I will be looking to 11000 on nasdaq 3600 on spx (or spx500usd more like) which I believe would be another great buying area.
The reason for this idea is not to be seen as a trade signal. I merely wish to share just one of the many tried and tested trading techniques. I hope that in the future it can be used as a guide to possible areas of both support and resistance.
spx500usd nq1! es1! BTCUSD xauusd
Please like and share if you see these fibonacci lines become areas of reaction with price action in the future.
Comments???
Leave a comment that is helpful or encouraging. Let's master the markets together
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