September 24, 2015

  • Month is bouncing from 38.2% fib level as shown in 3rd chart, Only below this level bears can hope for bigger down moves to happen.
  • For the up trend to resume price must move above the weekly cloud.
  • Immediate resistance shown in first chart the GAP between the golden ratio and 50% Retrace level.


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My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore