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Look at Ripple's price action when it is divided into three parts: a symmetrical triangle surrounded by a downward move on either side.
The first downward move is a useful guide of future moves since we know it has completed. This move is measured by the yellow box labelled 'price range 1'. This range is copied exactly and translated such that the top of the box aligns with the point where price broke below the lower triangle line. This box is labelled 'Copy of Price Range 1'.
Now, the market hasn't reached the bottom of this range. However, we can see the symmetry when the copied box is divided into the Fibonacci ratios. The market responds very strongly to the 0.382 and 0.5 levels, having not yet reached the 0.618 level. 'Price Range 1' remains a very important range. IF the market comes as low as the bottom of the copied price range, there's a good chance of reversal. However, it may reverse from one of the Fibonacci levels derived from it. This is a really interesting example of symmetry in significant price barriers.
Look at Ripple's price action when it is divided into three parts: a symmetrical triangle surrounded by a downward move on either side.
The first downward move is a useful guide of future moves since we know it has completed. This move is measured by the yellow box labelled 'price range 1'. This range is copied exactly and translated such that the top of the box aligns with the point where price broke below the lower triangle line. This box is labelled 'Copy of Price Range 1'.
Now, the market hasn't reached the bottom of this range. However, we can see the symmetry when the copied box is divided into the Fibonacci ratios. The market responds very strongly to the 0.382 and 0.5 levels, having not yet reached the 0.618 level. 'Price Range 1' remains a very important range. IF the market comes as low as the bottom of the copied price range, there's a good chance of reversal. However, it may reverse from one of the Fibonacci levels derived from it. This is a really interesting example of symmetry in significant price barriers.