AI
Thursday, October 31, 2013 10:59:42 PM
YIPI Fibonacci Updated Chart:
After watching today's action, it appears we've converted yet another milestone line (38.2% fan line). There was strong support whenever the bid fell below .89 once converted. This tells me we are already ready for our next move up. The bullishness is overwhelming here.
However, the fan lines should be updated to be more specific to the immediate run we are on. I will not be able to add an accurate measure of the next fan line (after this one) until we finally have a red candlestick. This is as updated a fan as I can make right now, and only the highest level is relevant. This shows us bouncing off the 38.2% fan line support very clearly. The next fan chart I can make (after we finally get a red candle) will start at the low point of the dip down to the 38.2% Fibonacci extention/retracement line. Depending on the scope of this current run, it appears the lines will show exponential values driving us up way past a dollar, even 2 very quickly.
Right now, we are simply in the process of finding our next support level for consolidation. IMO, we haven't gone up enough yet. Not by far.
After watching today's action, it appears we've converted yet another milestone line (38.2% fan line). There was strong support whenever the bid fell below .89 once converted. This tells me we are already ready for our next move up. The bullishness is overwhelming here.
However, the fan lines should be updated to be more specific to the immediate run we are on. I will not be able to add an accurate measure of the next fan line (after this one) until we finally have a red candlestick. This is as updated a fan as I can make right now, and only the highest level is relevant. This shows us bouncing off the 38.2% fan line support very clearly. The next fan chart I can make (after we finally get a red candle) will start at the low point of the dip down to the 38.2% Fibonacci extention/retracement line. Depending on the scope of this current run, it appears the lines will show exponential values driving us up way past a dollar, even 2 very quickly.
Right now, we are simply in the process of finding our next support level for consolidation. IMO, we haven't gone up enough yet. Not by far.
I can only provide my own speculation and theories. I am not qualified to offer any
investment advice. Everything I post is my own opinion. DO YOUR OWN DD!!!!!!!
