i think that it was algos buying off the .786 level that pushed the price up, doing what they are programmed to do. Plus joe public seeing this increased the price.
Now we can see there is no volume at all, I wonder how the algos are selling, probably peacemeal, obviously programmed to sell at the .386 level.
I suggest they may do the same again at the .786 level ,but may not get as much enthusiasm from Joe public this time.
Just a thought, not investment advice. Cheers.
Now we can see there is no volume at all, I wonder how the algos are selling, probably peacemeal, obviously programmed to sell at the .386 level.
I suggest they may do the same again at the .786 level ,but may not get as much enthusiasm from Joe public this time.
Just a thought, not investment advice. Cheers.
Comment:
sorry, meant the .382 level, but fib retracement in reverse of course.