What we see is a market that been using the .3 fib as resistance and support. As there are 3 qualifications of such and only these 3.
1. Price fluctuations
2.high volume
3. Dojis with long wicks
2015 bulls broke out of the cup at the .3 fib as it rounded bottom was ten years in the making they had since used this .3 zone to take price higher
Now that price returned to this zone they had been aggressive guarded it as the break to this zone will turnt the chart into a double top with a necktie break.....
Notice as price approaches this zone the monthly candles started to wick out at every touch.
As rejection and liquidity pulling.
Notice the green .3 ratio as it will be on the up coming posts on this pair explain what’s being going on here as we work down to the daily n 4hr
1. Price fluctuations
2.high volume
3. Dojis with long wicks
2015 bulls broke out of the cup at the .3 fib as it rounded bottom was ten years in the making they had since used this .3 zone to take price higher
Now that price returned to this zone they had been aggressive guarded it as the break to this zone will turnt the chart into a double top with a necktie break.....
Notice as price approaches this zone the monthly candles started to wick out at every touch.
As rejection and liquidity pulling.
Notice the green .3 ratio as it will be on the up coming posts on this pair explain what’s being going on here as we work down to the daily n 4hr
