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RAC - Charts & Price Action, page-240

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mcexplorer

15,730 Posts.

1793

24/07/20

20:26

Post #: 46061395
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Originally posted by EWexplorer: ↑

I like W3's charts and have ticked that last one. However charts are always interpretations.

In the case of his last chart he's used a range right back to 4.5c as the trading range I expect, certainly beyond the Sheba result.

I don't often post real charts - preferring to talk to trading strategies for a number of reasons, one of them being that I'm trading!

But here you are.

That is the chart Post Sheba. Why Post Sheba? Well that's when everything changed for RAC as LT'ers here know.

So "Post Sheba", today, we get a perfect bounce off the 38.2 Fib over the "Post Sheba" trading interval (I haven't measured the tops and bottoms perfectly so take the actual measurements as estimates) Ideally it should bounce up at least 50% from here ... around $1.025, I'm suggesting between $1 and $1.10 depending on markets (that don't look good so remember this is just a forecast !!!!)

Then it will likely drop back inside the range and either double bottom ... 88c or go lower to that 80c range mentioned many times before ... which in this case is the 50% "Post Sheba" Fibonacci point.

Personally I'm using this (Post Sheba) chart as my new guide as I believe all historical intervals became less significant once Bisantrene was proven.

I still think RAC is technically a hold but I'm buying any signals like today - a signal is a signal, and today gave a signal at a key Post Sheba Fib level. All the best.

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Agree. Post Israel trial is more reasonable to be taken as the starting point of this big run. Myself actually always use the latest letup say, 72 post the latest CR. So 89.5 is perfectly the 0.618 fib off 1.17 high. Maybe we could be back to 1.065 where 0.236 fib is

RAC Price at posting: 94.0¢ Sentiment: Buy Disclosure: Held
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