Criteria:
1. Fibonacci golden ratio 62%
2. Trendline
3. Historically worked very strong support area
4. Descending channel bottom trendline
5. The tiny round number $0.05
Yes, pretty far from the current price but we MIGHT see some bounce also from $0.07. NB: this area is definitely not so strong as it is around 0.05!
"For the most part, a typical trader’s perception of the risk in any given trading situation is a
function of the outcome of his most recent two or three trades (depending on the individual).
The best traders, on the other hand, are not impacted (either negatively or too positively) by
the outcomes of their last or even their last several trades."
– Mark Douglas
Feel free to support my idea post by hitting the "LIKE" button, it is my only fee from You!
Previous analysis worked out pretty nicely:
Have a nice day,
Cheers!
*This information is mostly used for educational purposes only!
1. Fibonacci golden ratio 62%
2. Trendline
3. Historically worked very strong support area
4. Descending channel bottom trendline
5. The tiny round number $0.05
Yes, pretty far from the current price but we MIGHT see some bounce also from $0.07. NB: this area is definitely not so strong as it is around 0.05!
"For the most part, a typical trader’s perception of the risk in any given trading situation is a
function of the outcome of his most recent two or three trades (depending on the individual).
The best traders, on the other hand, are not impacted (either negatively or too positively) by
the outcomes of their last or even their last several trades."
– Mark Douglas
Feel free to support my idea post by hitting the "LIKE" button, it is my only fee from You!
Previous analysis worked out pretty nicely:
Have a nice day,
Cheers!
*This information is mostly used for educational purposes only!
