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Author Topic: What do you see in this chart?  (Read 53 times)
ImThour
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May 09, 2022, 03:34:55 PM
 #1

I wanna know from you guys, what do you think where are we going?  Roll Eyes

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May 10, 2022, 03:24:56 AM
 #2

I don’t think you drew the fibs correctly. A better way would be to use the covid bottom because it’s the main impulse move.

Also the 0.236 rarely plays out, it’s mostly the 0.382 and 0.618 and sometimes the 0.50

Where we are now is a good area because it’s the 30000 psychological number.

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ImThour
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May 10, 2022, 03:37:45 AM
 #3

I don’t think you drew the fibs correctly. A better way would be to use the covid bottom because it’s the main impulse move.

Also the 0.236 rarely plays out, it’s mostly the 0.382 and 0.618 and sometimes the 0.50

Where we are now is a good area because it’s the 30000 psychological number.

Pretty sure the Fib is placed correctly. Also, I know 0.236 doesn't play, I never said anything about it.
Was asking if we going 0.382 and bounce back or 0.5.

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May 10, 2022, 03:56:43 AM
 #4


0.50 will be its support, breaking out that line will be horrific for a holder. if the price bounces from  0.23 and continues up, i think we can forget to speculate how low it could be. 

it's the RSI that you will need to notice there because it's telling us that it's still going to dip. if the RSI reached oversold while fib touches 0.38, will it convince traders that its a good bounce signal?

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May 10, 2022, 05:42:30 AM
 #5

I wanna know from you guys, what do you think where are we going?  Roll Eyes

I can’t say I know where we’re going in the future from looking at that chart. I can say that it looks like it is at a critical support level and will either bounce to new highs or retest the previous support level, which appears to be quite low.


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May 10, 2022, 06:38:30 AM
 #6

The price keeps, it is very certain to expect a pump after the correction and vice versa. If we think that it repeats the history, I can't tell that but I believe it won't happen again whether we like it or not, it remains unpredictable and we never where it goes exactly.

We can project and draw a line to what is possible to happen but we never expect the market will follow in that direction.
it was a headache if we check the market always...

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