Was it the pattern that caused the price drop yesterday or the news?? this is the question that is super interesting to me. If you plotted the fib on this chart and price made a B at or very near to 78.6% level and then we got a C between .382 & .236 we can then expect price to complete the butterfly and get up to 1.272 or 1.618 extension.
In this case price shot up to 1.272 and then crashed... but was it as I believe the pattern leading price, or was it as others believe news affecting price or is it a combination of the two.
Interested to hear what you guys think.
In this case price shot up to 1.272 and then crashed... but was it as I believe the pattern leading price, or was it as others believe news affecting price or is it a combination of the two.
Interested to hear what you guys think.