PEPE in Price Discovery mode and cooking
Never thought I'd say this but PEPE is looking good from a TA POV. Hard to deny the price action PEPE has been moving through resistance and holding on support beautifully. Try not to FOMO in on green candles there should be a retracement, use the fib for a guide.
My guess is over $0.00003 soon
Volume is healthy. There are some beautiful candles with tails on the daily and hourly
Dont fomo, plan your risk, good luck
My guess is over $0.00003 soon
Volume is healthy. There are some beautiful candles with tails on the daily and hourly
Dont fomo, plan your risk, good luck
Trade active
What Are Fibonacci Retracement Levels?
Fibonacci retracement levels are prices, depicted as horizontal lines on a chart, that indicate where support or resistance could likely to occur.
Each price level is associated with a percentage amount that measures how much of a retracement has occurred from a prior peak in the price action. The retracement amounts are based on numbers identified in a Fibonacci sequence. The Fibonacci retracement levels are 23.6%, 38.2%, 61.8%, and 78.6%. While not officially a Fibonacci ratio, 50% is also used.
The indicator is useful because it can be drawn between any two significant price points, such as a high and a low. The indicator will then create the levels between those two points.
source: investopedia.com/terms/f/fibonacciretracement.asp
Note
FOR YOU YOUNG FELLAS WHO "YEARN FOR THE CHARTS" please keep this in mind...
All fib tools are not created equal nor are they intended to be necessarily used the same way as their counterparts.
In this case I am referring to Fib retracement vs fib extension.
I AM REFERING TO FIB EXTENSION VS FIB RETRACEMENT , THEY ARE NOT THE SAME.
While all of the fib tools and thought processes around them might be in "the same game" at their core...
In reality they are not even in the same ball park.
It is important to know this whether you are in the analyst game, trader game , or both.
I could, in fact write a whole piece about this topic.
We play in a game of inches or less, that is exactly how small the edge is even for top tier practitioners.
Yeah, I get it, charts look cool, trend lines and colors that pop make charts look even cooler.
Please keep a sobering thought process at the core of your approach to analyzing and trading.
It is childishly easy to let a few hot streaks get to your head and have you thinking that price action follows you and your arsenal of tools for analysis.... and not the other way around.
We are the "news reporters", not the "news makers". This may force you to have to think beyond jargon and self serving "shop talk" every once in a while.
I am 100% here for everyone getting their flowers. You have to remember that some man, woman, or even child , in some cases, might see your work and make real financial decisions based on what you published.
They deserve a fair shake in the markets too, so it is my belief that we owe it to the public , and to ourselves, to truly understand what we are presenting in our work, AT MINIMUM, on a higher than average level.
This isn't a white knight rant either, hear me out. If the majority of us approach our TA work that way, it is most certainly going to be mutually beneficial.
Wins and loses come a dime a dozen.
So let's put the time and effort into our, very public, work so that we have a trophy case full of knowledge and skills that can be passed on to future generations. As opposed to a case full of ego boosting wins and trophies that only benefit the top of the top when it comes to this game that we love.
Cheers.
Note
The analysis remains in tact, we even got a perfect retrace to the "5 hole" , which is the most common areas we see retracement to along with the 0.382 line. I do feel though, that I know less about direction than when I started this analysis. Which is also quite common for me as I regularly challenge my assumptions 
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