0.707 often happens in W2 i meant of cos, retrace of W1. Also i find this number often in triangle formations, most times in E
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Trade closed couse of stoploss with 35% loss. I am flat now, just watching if a pattern can be identified even If the dip last hour was a price revearsal Zone and it is AB=CD it can´t be a uptrend correction pattern by definition ( we have Lower Lows). Ether the dip formed W1 of a big Ending Diagonal, or less likely W3 of bearish Impulse. We don´t know.
Im -5.6% in my positios overall, inclusive that i closed 30% of my postion cos of stoploss trigger. Don´t have much time but wanted to post my new SL levels fast. 4 hit 0.5 which indicates a more realistic chance to continue 1 wave bearish. There is Fib. confluence at 0.884(0.886) retrace / 0.618 Extension and 1- ret / 0.786 ext. are god resistance ( double botton )
Im -5.6% in my positios overall, inclusive that i closed 30% of my postion cos of stoploss trigger. Don´t have much time but wanted to post my new SL levels fast. 4 hit 0.5 which indicates a more realistic chance to continue 1 wave bearish. There is Fib. confluence at 0.884(0.886) retrace / 0.618 Extension and 1- ret / 0.786 ext. are god resistance ( double botton )