Diving into the TIA Daily Log Chart got me thinking, and I wanted to bounce some ideas off you all. I've been playing around with measured moves from past breakouts to get a feel for where the current momentum might take a breather. Interestingly, what I found syncs up with the 2.16 Fibonacci extension level. There’s this neat confluence happening right around the $38 mark, which, if you crunch the numbers, spells out a potential 100% jump from where we stand now.
Breaking Down the Approach
So, here's how I approached it on the log charts. The beauty of log charts lies in how they focus on percentage changes rather than just straight-up price differences. This perspective is gold, especially when you're trying to map out moves that span various price levels over time. Let's say a previous rally saw a 50% uptick. Applying that same percentage to our current situation gives us a ballpark figure for the next pause point.
Fibonacci
Now, onto the Fibonacci extensions. These bad boys are all about forecasting where prices might head next, especially beyond the current action. Rooted in the Fibonacci sequence (you know, each number is the sum of the two before it), these extensions help us spot potential resistance or support zones. The 1.618 level (aka the Golden Ratio) is a crowd favorite, but there are other levels like 2.618 that also come into play.
Linking these measured moves with the Fibonacci extensions has thrown up an intriguing possibility for TIA. The roadmap seems to be pointing towards that $38 level, matching the 2.16 Fibonacci extension. It's like the stars are aligning, signaling a pretty exciting move that could double the current price.
I’m really eager to hear what you folks think about this setup. Does the $38 level catch your eye as well? Merging these technical tools, like measured moves on log charts with Fibonacci extensions, gives us a solid frame to speculate on future price movements. It's always enlightening to share insights and tweak our strategies based on collective wisdom. What's your take on applying this blend of analysis to the TIA chart?
By no means am I a professional--just trying to learn a few things along the way. Peep the chart and let me know your thoughts. I'm always looking for ways to improve my trading!
Not financial advice :) Cheers!
Breaking Down the Approach
So, here's how I approached it on the log charts. The beauty of log charts lies in how they focus on percentage changes rather than just straight-up price differences. This perspective is gold, especially when you're trying to map out moves that span various price levels over time. Let's say a previous rally saw a 50% uptick. Applying that same percentage to our current situation gives us a ballpark figure for the next pause point.
Fibonacci
Now, onto the Fibonacci extensions. These bad boys are all about forecasting where prices might head next, especially beyond the current action. Rooted in the Fibonacci sequence (you know, each number is the sum of the two before it), these extensions help us spot potential resistance or support zones. The 1.618 level (aka the Golden Ratio) is a crowd favorite, but there are other levels like 2.618 that also come into play.
Linking these measured moves with the Fibonacci extensions has thrown up an intriguing possibility for TIA. The roadmap seems to be pointing towards that $38 level, matching the 2.16 Fibonacci extension. It's like the stars are aligning, signaling a pretty exciting move that could double the current price.
I’m really eager to hear what you folks think about this setup. Does the $38 level catch your eye as well? Merging these technical tools, like measured moves on log charts with Fibonacci extensions, gives us a solid frame to speculate on future price movements. It's always enlightening to share insights and tweak our strategies based on collective wisdom. What's your take on applying this blend of analysis to the TIA chart?
By no means am I a professional--just trying to learn a few things along the way. Peep the chart and let me know your thoughts. I'm always looking for ways to improve my trading!
Not financial advice :) Cheers!
Comment:
Some could consider this the retest--always use stop losses!
Whatever you do, take care of your shoes.