SOR 0.00% 4.4¢ strategic elements limited

Technicals, page-535

  1. 147 Posts.
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    Hey all, apologies if it seems I am spamming. There is a potential (not definite) reversal happening so I wanted to post another chart.
    https://hotcopper.com.au/data/attachments/2896/2896835-212efb606b38ffc489bed50c622122ff.jpg
    What I wanted to point out that I didn't mention in my previous chart is the fibonacci band.

    I understand there are traders out there who don't trust the fib band. Personally it's been a trusty signal for me so far.
    I believe it applies to the current SOR movement too.

    After hovering around the 50% (0.54) line, it got overwhelmed by sellers and dropped below towards the 38.2%(0.45) line.
    Where it tapped it, and had a green day. today wasn't bad either.

    Plus, the candlestick of 09 Feb is clearly a hammer. Reinforced by the strong green day following.
    (For those that don't know what a hammer candlestick is, simply it means the sellers tried to push the price down but the buyers absorbed it and pushed it back up. usually a supporting (not to be used by itself) indication for a reversal. Especially if its followed by a greenday.)

    I am not hyping, as I don't believe anyone who invests based on a thread post should be investing.
    Just posting what I observed and wanted to share.

    Please DYOR and GLTAHsmile.png
 
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