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@Patterns Hi mate. Could you do a screen shot of the where you...

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debono

23,149 Posts.

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11/01/24

11:48

Post #: 71829154
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Originally posted by Patterns ↑

Hi @debono good to see you doing well. After three levels of rise I would seriously be looking for three full levels of fall from here meaning another 200% range expansion to around 0.0600 cents. They have a lot of traders trapped up high between 0.08 and 0.9 cents and I doubt they intend to refund their money.
If you go to settings in tradingview and set up the fib tool for 0.00, 1.00 and 2.00 it will give you the range expansions and in your forex where you can short easily, it will make better price targets for you. Seeing it has just left the monthly highs, I would expect it to go back to retest the December lows. I would be drawing the demand level at the monthly low of December as that is where price really took off from around 0.0600. Never try to counter trade a parabolic trend that is heading vertically down it's not good for you. if you ask yourself where is the money? You will find all those bulls from the monthly lows and higher are still in the money and that is where they will go to put some heat in their positions.

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@Patterns
Hi mate. Could you do a screen shot of the where you put those settings if you have time. I am obviously doing it wrong
(nothing like an announcement to stuff up good technicals!)
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