P.S.Just on that 5.4 call M. I checked your downward break range on the fibs prior to posting and you were correct for 1st resistance on the downtrend. It did manage a tweezer bottom as you stipulate on the candles. But a tweezer bottom means baby packages in which I have no interest.
On point though..all I said was "good luck with that"...no criticism. I didn't tag Hoots for confirmation...I didn't need to.
That's the thing with fibs...their range...and to be honest I remain eternally sceptical on what I consider the voodoo underpinnings of this school of support/resistance theory...really puzzling...yet many TA gurus swear by it apparently...GMF'd truthfully!.
But at time I doubted the 6.1 supporr would be breached...but at that time I was of the view that the s hedding of volume into the sell lines would be less in terms of the sell down by the whales and didn't consider stop loss triggers were much of an issue...latter my own bias...don't use them on ********* due to higher volatility profiles.
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P.S.Just on that 5.4 call M. I checked your downward break range...
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