Macro Logarithmic Fibonacci Extensions
The prior cycles depict zones of resistance in the following market cycles. The 1.618 acts as the first mid cycle resistance zone, with the 2.272 following as the target for the cycle top. When the market retraces to start the bear market, it roughly finds support on the 1.618 to mark the bottom.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.