Fib1 is the long fib which traded under its 61% line, making it a break or possible dirty hold of longs.
Fib3 is the extension short drawn from fib2 which was a strange traditional fib short. Fib3 held and broke lower fast.
If it goes to target it breaks fib1, meaning that a pullback higher can be sold into towards the larger buy zone.
However if fib1 holds above its current resistance breaking fib3 the speculative sell zone coming from fib4 could be used to short the bastard towards the lower buy zone. This is a counter trend trade! Either buy stoploss or switch to break-even to be save. The problem with the sell zone is ofcourse that it could fail or do another dirty hold.
All in all the longs are valid until a firm break below the red on the bottom, which is the 61% line of the biggest fib long.
Fib3 is the extension short drawn from fib2 which was a strange traditional fib short. Fib3 held and broke lower fast.
If it goes to target it breaks fib1, meaning that a pullback higher can be sold into towards the larger buy zone.
However if fib1 holds above its current resistance breaking fib3 the speculative sell zone coming from fib4 could be used to short the bastard towards the lower buy zone. This is a counter trend trade! Either buy stoploss or switch to break-even to be save. The problem with the sell zone is ofcourse that it could fail or do another dirty hold.
All in all the longs are valid until a firm break below the red on the bottom, which is the 61% line of the biggest fib long.