MBE Chart, page-116

Hi Beany. Well done. I can't recall mentioning any fib levels. I was just referring to that gap 'wanting' to be filled.

As for daily bars closing on highs resulting in gains the following day.....it's not as straightforward as that. You'd have to drill down into an intraday chart to see the story.

Here is a 30 min chart. Those pink arrows are from 15/04 when price closed on it's high. Look at the volume though. There is little demand for higher prices. This is the red flag even though price closed on it's high.

The following day in the first 30 mins we can see supply entering resulting in an upthrust. Further supply enters a couple of hours later, and it's been downhill since. Perhaps that selling had one eye on that gap. Who knows....

Yesterday was positive. But demand will have to be found from somewhere. Just throwing in some f/a, I read here that a roadshow is going on.....perhaps this will trigger this demand. Some can wait for this demand to show up before entering in. A more aggressive entry is to enter around here and place a stop loss below further below that blue line (where the gap was).