USXP@ .00305 is 61.8% retrace Bottom....IMO...
The Fibonacci Retracement is a good tool for novice and seasoned traders.
It is can be used as a stand along study or an additional study to confirm price movement of a currency pair.
The Fibonacci Retracement is displayed by drawing a trendline between two extreme points.
Some Fibonacci Retrace numbers are 38.2%, 50%, 61.8%
We hit a high of .008 recently with the serious run we had... Thanks DR D, I made some nice $$
We are at a 61.8% retrace now, with the volume drying, I think we are at the bottom...
Retrace Fibonacci numbers work well most of the time for retrace calculations...IMO..
Nobull posted this along time ago. If you are out there NB, Thanks again!! as I have not forgot ...
Recent High is .008
61.8% of .008 = .004944
.004944 - .008 = .00305
We did touch 0.0025 today but came back up to .0031 for a test or two..
Hoping for a hard run upwards from here to over .01+....fingers crossed...
RA we need a PR ....
Day's Range: 0.0025 - 0.0035
Notice they ran it back up to .0031 today after hitting .0025 today and to me, this is a indicator of a bottom...
Eagle1,
P.S. Dr D, any thoughts are greatly welcomed...
Thanks....
