Simple monthly Fibonacci from this months high to the lows in 2017. Extensions are looking real good; $0.05 may be a reality! Final brutal shakeout... ?? Get rid of loads of retail traders and weak hands!?
Don't think that it can't go this low. The market does the unthinkable.
Don't think that it can't go this low. The market does the unthinkable.
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Some may think this is now impossible. However, it is not. As you can see price is doing what i anticipated it would do and retracing to the 61.8% Fibonacci that collaborates with a strong level of support and resistance. It may wickfish toward 78.6 region as there is also a nice spot of S/R there too. But overall, this is still in play and would be a great chance to get in the market (long) upon the test of 0.08 coming through!
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BOOM! Tapped my Entry region and rejected it beautifully and we went straight into profit. Easy as that! Stops in profit if you want; might not get to ride it down to those levels i have as i dont know if they will give us that lucky opputunity... either way, we can ride it risk free :)
Trade active:
sell limit triggered (2 days ago)
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im not too keen on 8 cents occuring now. i want to see 0.174 come through and maybe 0.157 - 0.147.
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first target of 0.174 has been achieved!
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I really believe that my $0.08-0.05 target can be met! Lets watch it unfold...
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A month later... still awaiting this move. I still believe its possible.
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Once again its starting to drop lower, eventually leading us into the $0.10 region, thats where it gets bloody!