61.8 %
I don't get it, empowering. 61.8 % of what? Tell me!
Sure .... when I traced the fibonacci retracement levels of the move from 239.10 to 259.10, I saw the 61.8% retracement level at $246.74 and I thought.... yeah, we are most likely to be headed back to there (61.8%) at least ..... 61.8% level is quite a common retracement level, and upon hitting it we often see
something occur, a decision, and if it is not going to retrace the move completely, and instead is headed on up, it is a common spot for a bounce, and if it is going to continue to retrace, this is a spot I keep an eye on, if we have got this far.
Sometimes, if the move is quick and violent enough, or moving through a new wave, or reacting to other data, it can move violently through retracements.
Though of the retracement levels, I find 38.2% and mainly 61.8% to find the most correlations to the market in real time.
So, I posted 61.8% really as an observation, when we were at approx $246.6, just as a note mainly to myself to see if we bounced off this level........ or not. (and to remind myself, that my hunch was right that we would see 246.6 at least again, which it was)
(I am a bit drunk, not at home and too lazy to write this anywhere alse atm, sorry for using the wall as my notepad ha ha)
Now lets see if we get the bounce
(ps and nibbled of course just a little add on.. eyeballing)
Poll
