Golden Pocket Rejection

Updated

We dropped down to a swing failure pattern May 12th. (a long wick down). We then sprang back up on the 15th to create a small range for the month of May. The low and high of that range used to pull the fib and find a golden pocket at 1.15 trillion. We have left that range long ago but since rejected from it twice. I wonder if we will retrace to the POC below and continue ranging? My gut says we go down but that doesn't mean anything really.

Now here's the thing. If you zoom out 100% and draw a fib from the lowest low to the highest high you will see the golden pocket is.........1.15 trillion. I cant make this stuff up.

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Seriously I cant make this stuff up. The fib is no joke.

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Up or down? Who can know?

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Bearish Divergence on the Daily chart. Looks like a rejection, however it may Range for a while before making a move.

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We haven't cleared the imbalance yet. Be careful

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Just to be clear. This level is the one to break and stay above. 1.15
Rejecting from it signals a drop back down.

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Altisona

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