Current price is approaching a critical support zone.
There is an exact confluence of two 2.618 Fib extensions.
The Red is the downward wave, and the Blue is short term upward wave.
Where two such important and opposite ripples meet, there is often a battle.
Lets see how this plays out.
Background:
I am currently short, based on this plan
I am of the opinion that it will continue downwards as the stock markets recover and the Fed keeps raising rates.
There is an exact confluence of two 2.618 Fib extensions.
The Red is the downward wave, and the Blue is short term upward wave.
Where two such important and opposite ripples meet, there is often a battle.
Lets see how this plays out.
Background:
I am currently short, based on this plan
I am of the opinion that it will continue downwards as the stock markets recover and the Fed keeps raising rates.
Note
So here we are, orbiting the two 2.618's like binary stars. Note
Wow, quite a bounce off the crucial zone 
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
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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.
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.