fib levels act as supports and resistance - I only use them when there's been a big run up or big tank
general rule of thumb for a trade for me is if 50 - 61.8 level don't hold, don't bother with it, then there;s a couple of other indicators to watch like the ema's, rsi, intraday volume etc etc (but thats just how i do it, everyone has their own method)
@EugeneB is 100% right though, it cuts both ways up and down
and @Goodfella58's elliot waves come into play as well longer term to see where a run is headed. Waves are interesting but i struggle to work out when to start the count
Chart - Z1P, page-16404
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Last
$2.94 |
Change
0.065(2.26%) |
Mkt cap ! $3.838B | |||
| Open | High | Low | Value | Volume |
| $2.91 | $2.97 | $2.82 | $18.45M | 6.379M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 11 | 58665 | $2.93 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.94 | 51428 | 25 |
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| Last trade - 13.48pm 15/10/2024 (20 minute delay) ? |
| ZIP (ASX) Chart |