Fibs 2: Will the .236 hold?
Well I dunno, will it? Some people are starting to rock back and forth and mutter 'inverse head-and-shoulders' to themselves again....which in my memory is a signal that begs for a countertrade, but thats not what we're here for. We're here for the sweet nectar of fibonaccis secrets of the universe.
To me [not financial advice], these numbers are pointing a bit to a recovery to the .382 ish area, but overall the slant seems bearish until it starts stacking buy candles in any sort of structure. While .236 may well be a consolidation level before a big push, it's still poised to rather easily slide through that low [which was a long wick to begin with]....and if that happens without some sort of V-bottom response buckle the fuck up.
To me [not financial advice], these numbers are pointing a bit to a recovery to the .382 ish area, but overall the slant seems bearish until it starts stacking buy candles in any sort of structure. While .236 may well be a consolidation level before a big push, it's still poised to rather easily slide through that low [which was a long wick to begin with]....and if that happens without some sort of V-bottom response buckle the fuck up.
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