I'm not sure if this pattern works in such a small time frame.
But the retracement is perfect.
.618 on the midpoint from the initial drop...
.786 on the end point from the drop.
... so if this usage is correct.... we're going down.
But like I said. Very small time frame.
So let's see.
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But the retracement is perfect.
.618 on the midpoint from the initial drop...
.786 on the end point from the drop.
... so if this usage is correct.... we're going down.
But like I said. Very small time frame.
So let's see.
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That means a thin orderbook.
The high is now beneath the fib. Started above it during this consolidation pattern.
Will probably break bear by dump o'clock 7-8amish PST. (Time when everything dumps in the morning for the past week).