Here we are again at a Golden Genesis fib, strongest of all fibs.
"Golden" as in an exponent/multiple of .618, the Golden Ratio.
"Genesis'" as in the primary wave of this asset's growth pattern.
A retest was expected but bulls needed it to happen much sooner.
The high altitude drop has pierced the fib instead of a clean bounce.
Bulls need to "orbit" this fib and then attempt to slingshot Northward.
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Previous post calling the last pullback:
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"Golden" as in an exponent/multiple of .618, the Golden Ratio.
"Genesis'" as in the primary wave of this asset's growth pattern.
A retest was expected but bulls needed it to happen much sooner.
The high altitude drop has pierced the fib instead of a clean bounce.
Bulls need to "orbit" this fib and then attempt to slingshot Northward.
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Previous post calling the last pullback:
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Trade active
Dip Done? Just hit sister Genesis fib below, at $77.59
.
Zoom IN (M15)
We had many Pings (exact hits) on the Golden above,
Now a clear Ping on the sister fib below at $77.59.
Will it hold? No idea. But it has a non-zero chance.
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.
Trade closed: target reached
Houston, Eagle has landed!Booking some of the 30% gains here,
let the rest ride with a trailing stop.
.
Trailing stop on remaining position,
just below the Golden Genesis.
.
That might have been THE bottom.
But I am suspicious of a bull trap or "wave B.
Enjoy the gains and see if the stop gets us more.
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the Golden Ratio is my Religion
the Trading View is my Nation
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the Trading View is my Nation
the Moderator Tag is my Flag
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the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
Related publications
Disclaimer
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.