Please see the linked idea below for yesterday's post. Again, last week (and perhaps the week before) we selected $0.86-$0.91 as a great prospective entry point based on the fibonacci retracement levels, the fibonacci channels, and the fractal overlay. It struck that range twice, and bounced up to where we stand now at around $0.93.
Today we are looking at that chart with 1 hr bars. The fractal overlay suggests some volatility incoming. We could see a dip fast and quick to $0.78-$0.80, or we could see a rise to the top of the fibonacci channel. Or both. Or neither.
Either way, it does not change what we are doing here. We were happy to get in at the $0.86-$0.91 range, a great discount. We are looking ahead at what that fractal suggests is coming: on or around November 17, 2021, we begin the real bull run.
A full 4.236 fib extension takes us up to $13.68, the fractal overlay suggests $17.50ish.
Today we are looking at that chart with 1 hr bars. The fractal overlay suggests some volatility incoming. We could see a dip fast and quick to $0.78-$0.80, or we could see a rise to the top of the fibonacci channel. Or both. Or neither.
Either way, it does not change what we are doing here. We were happy to get in at the $0.86-$0.91 range, a great discount. We are looking ahead at what that fractal suggests is coming: on or around November 17, 2021, we begin the real bull run.
A full 4.236 fib extension takes us up to $13.68, the fractal overlay suggests $17.50ish.
