Most measured moves on Stocks and commodities end up taking profits or retracing at the - -23.6 % fib and occasionally running to the -61.8% Once it hits its -23.6 % we draw the Next measured move.
When it runs to its -61.8% we then draw fib extensions For more detailed analysis on Fibonacci Retracement / Extensions I suggest purchasing David Halsey's book Trading The Measured Move.Your Forex Commodity trading will improve dramatically.
Look at the EG Below The ES had a 50% retracement trade at the 3714s and look at where the Algos/ traders took there profits ? lol at the -23% trgt of the 4028s! give or take a few points. Powerful stuff.
The current long term anchors on IVZ are the 10c (Low) to 40.5 c (High) 1st trgt at the -23% at the high 40s and scondar PT at the -61.8% at the 60c level.
Trading What I See DYOR
IVZ Price at posting:
34.5¢ Sentiment: Hold Disclosure: Held
