Jermo71 re 62% fib move...
can you expound a little more on the 62% fib retracement level.
i thought it was a 50% breaching that ends the longer pattern.
in my use & DD of fibs + volume over the last 5 years, I have always been under the understanding that once your longterm fib pattern is broken on the down side by more then 50%, it implies a breaking of that fib pattern.
just as a fib move of that larger pattern on the upside, beyond a 1 to 1.78 move, would be considered parabolic.
we did both in one day! quite a feat. lol. actually unprecedented in the following of stocks ive invested in.
I will be eager what monkey's take is on this, but my understanding is, it implies consolidation & the start of a whole new pattern, seperate from the older larger one.
yet, i will also add, this isnt a naz stock & furthermore, it's caught up in an industry w/ intense mania. so I also see many things (retracements, extensions & even breaking of patterns) as constricted in time & able to reform & reboot much quicker then bigbd stocks.
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