123Tom's TA study group

[123tom]

I dont know if anyone can see this Fibonacci roadmap

but its a pretty complete construction.

My choice is to put it in the trash,or post it here

Fibonacci architecture


The essence of what this picture is saying to me.... the rally to 23.70 was overblown, and the true Fibonacci top was 21.30. From the 16.70 Bottom to 21.30 and the construction builds itself to look like this.
Major retrace bounce targets now on the Fib are looking to climb the steps back up which it came down, 18.40 area,like the old rally wave, a repeat of that wave pattern. target 18.80 area, 19.00-1930 area, especially magnetic is 19.30 and it could become a capping target. Above that is 19.80 pivot, and stretching to 20 dollars is a major capping target. 20.50 and finishing at 21.area. This Plunge in math terms should have held as a bottom zone around 18.40. the Fib was looking at 18.80 area as the 62% ,19.30 target ,and 19.80 target. The way it slammed down below these targets, all the way to 17.40, makes me have bias now, that erases the 23 top and makes the Fib top look like 21 area.
I remember watching the big rally climbing,and it just kept running up every day. That alone was abnormal for AVXL, and the real Fib target for capping, should have stalled around 21 area. 20/21 area, as I was watching it, then it continued to climb and surge to 23.70 peak. All that peak was overbought. I felt cautious about it. and was asking myself, why did it not finish and pull back at 21. Then when the pullback started from 23 area and fell to 19.80 and then climbed in a bear trap bounce ,hits 21.30 twice, and Fails there.
So this off beat chart is measuring the pattern from a Bottom at 16.70 to a finish top at 21.30.
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The Fib retrace now is showing the target zone 18.80-19.30-19.80 area. First wave rally target I'm looking for now is to see stalling /Capping at 18.40. like the previous First wave did, when it began at 16.70.
In that old Major Bottom zone (16.55-16.75 area) there is also a first wave resistance around 17.80 to watch for now. We might see some zig zagging around 17.70-18.10, but my rally First Wave target is 18.40 area.
Lets see what happens there.