@mcmurraj..Im glad you asked about the terminology..a "62% Fib" just refers to the distance that price returns from between a high or low point..its the 62% ratio of the distance between top and bottom of a retrace..this level will more than often become stubborn resistance after a major top or a trigger to further highs during a breakout....but we dont know where the 62% is until after a bottom is in...we let the market tell us that bit first.. I suspect the tweezer top is a med to major top and that next 62% will be stubborn resistance ( for various reasons..MACD is just one)..but what I suspect is totally irrelevant..we`ll let the market show us these 3 points first ..the high 117c (which we`ev already seen ) now looking for the low, and the next 62%.. (the next 62% will reveal the low in hindsight)
RAC - Charts & Price Action, page-260
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Last
$1.50 |
Change
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Mkt cap ! $249.1M | |||
| Open | High | Low | Value | Volume |
| $1.51 | $1.53 | $1.48 | $91.85K | 61.35K |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 934 | $1.50 |
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| Price($) | Vol. | No. |
|---|---|---|
| $1.51 | 287 | 1 |
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| Last trade - 11.30am 21/05/2024 (20 minute delay) ? |
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Last
$1.51 |
Change
0.010 ( 0.85 %) |
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| Open | High | Low | Volume | ||
| $1.52 | $1.52 | $1.48 | 7604 | ||
| Last updated 12.23pm 21/05/2024 ? | |||||
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