I think it is a bit of a stretch to run the Fibonacci retracement tool all the way back to September, but it does begin a long upward trend from that point and the price bounced off the 61.8 retracement line almost perfectly based on this chart.
I am not sure if you can see it by scrolling back in my chart but I did the exact same thing for July 2017, and the chart looks nearly identical, but not as nasty of a drop compared to Fib. and moving averages.
I am not sure if you can see it by scrolling back in my chart but I did the exact same thing for July 2017, and the chart looks nearly identical, but not as nasty of a drop compared to Fib. and moving averages.
Note
I am still learning how to use these tools. I am novice, but studying hard. Although I am learning what makes the analysis work, I may still be blind to red flags that would cause the analysis to fail. I am always open to constructive criticism, conversation, confirmation and links to videos that would help me understand the charts better! -RickSmash
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Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.