This was the closest I got til shit app crashed. All do yourself a favor and scroll thru the past 3 years of t53 post and find me one he was right on. Remember this gem guys? “Adtm secured 50,000,000 million in cash” LMAO I’m dead. Those were some funny times
Fibonacci Numbers are commonly used in Technical Analysis with or without a knowledge of Elliot Wave Analysis to determine potential support, resistance, and price objectives.
The most popular FibonacciRetracements are 61.8% and 38.2%
61.8% retracements imply a new trend is establishing itself.
38.2% retracements usually imply that the prior trend will continue
38.2% retracements are considered natural retracements in a healthy trend.
Fibonacci Retracements can be applied after a decline to forecast the length of a counter-trend bounce.
The 50% retracement is not based on a Fibonacci number. Instead, this number stems from Dow Theory's assertion that the Averages often retrace half their prior move.