CGLD heads up: "Ping" on a Dangerous Level for a "Lower HIgh"

Quick heads up on the Loud Ping just heard at key Fib.
Ping = Exact and Violent ricochet you can almost HEAR.
All levels on chart are from a single Golden Fib series.

Notice the previous Ping on Golden Fib that marked the Top.
These pings will have alerted and energized all other levels.
Thus we can continue to rely on the relevance of these Fibs.

Fib levels do NOT necessarily indicate a direction to take.
Instead they indicate levels where direction might CHANGE.
Elliott Wavers would plot a wave B top here, into a C down.

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I do not use "Fibs" in the "traditional" manner (retracements).
I use Fibs to plot "Ripples" (extensions) created by "Impulses".
Then look for "Confluences" to map the "interference Pattern".

My TV collection of ideas detailing the Concepts:
Chapter 1: Introduction and numerous Examples
Chapter 2: Detailed views and Wave Analysis
Chapter 3: The Dreaded 9.618: Murderer of Moves
Chapter 4: Impulse Redux: Return to Birth place
Chapter 5: Golden Growth: Parabolic Expansions
Chapter 6: Give me a ping Vasili: 'one' Ping only
Chapter 7: The Mighty 2.618: like a Rook in Chess

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評論:

More details about this Fib

View of the origin and growth of this Fib

The "Impulse" was a sudden move from 1.5854 to 2.1000
The "Ripples" it created are defining and carrying the wave.
The "Golden" levels are 1.618x multiples of the predecessor.

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Zoom IN (15 min) for a look at recent Price Action:

The numerous "Pings" keep reinforcing this "Rhythm".
Thus we can look to each one for a possible reaction.
When the reactions STOP, we look for a new Impulse.

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Zoom in MORE (1 min) for near term planning:

Blue 8.971 fib is trying to hold but now looks spent.
Blue 8.471 is a "Major" ratio between golds (.618).
Ideal bull action would be a LOUD Ping at $5.9448.

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評論:

Follow up to last snapshot above ^^

Hit the fib perfectly at 5.9448

Not quite the loud Ping on that one,
BUT we got another Ping on the fib above again.
So there is a CHANCE for new highs from here.

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