RAC - Charts & Price Action, page-363

@Isaacbella18 yes I understand what you meant..I didnt mean to be vague but was just out all day... during a strong uptrend the focus is on resistance breaks not support, everyone piles in on a resistance break and the % moves are far greater from there up to a new high than from support up to resistance ..the long term trend here is still strong and price will bounce from somewhere.. we don`t know exactly where or when and anyone is just guessing..so the more relevant question at this stage I suppose is where is next resistance and will it be broken again through to a new high? (this is the current "trend")..now of course we all want to avoid being at the final top, but the only real way a top can be seen is by the formation a lower high next to it.."hindsight"..a final top is made of two parts ie; a high and a lower high next to it, this is what makes it a "top" by definition.. ..the common place for this lower high "resistance" is at 62% of the rebound...so based on the length of this retrace $1.17c-88c that 62% is at $1.05c.. (if a new low is made before reaching $1.05..the 62% ratio will change accordingly)...this is the only way to ride the ups and downs of a full breakout trend without jumping at shadows all the time..no need to make guess just take what the market is willing to give..all the way from breakout to lower high.