If we count $2.48 as the first complete move, this current high of $3.16 is the 1.618 extension. This total move accounts for 150%.
$2.89 is the .618 Fibonacci ratio for the move from 1 to 1.618. This is also where the last high volume cluster of volatility occurred. If we pull back here, I’ll be eyeing this range as the next support zone.
$2.89 is the .618 Fibonacci ratio for the move from 1 to 1.618. This is also where the last high volume cluster of volatility occurred. If we pull back here, I’ll be eyeing this range as the next support zone.
