For those that use the "Fib Speed Resistance Fan", our XJO hit 0.25 and retraced. Could we retrace back to the 0.382 in the coming days/weeks? Also, I wish I have found this earlier!! This has correctly forecasted the support line during the March lows.
Furthermore, a good entry point for investing in the long term is when the " William R" is below the yellow and is rising from the bottom. The last three times this has picked the bottom!
I will be watching these indicators at the next sell-off.
Great analysis mate.
WIlliams R is a solid indicator to pick bottoms. As the indicator has already turned positive, do you think we could head down to <0.2 williams R again?
johninvest17
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From a chart pattern point of view, if we do fall from here and break the 0.382 support in the coming weeks. It will form and confirm a head and shoulders pattern. In that case, we are likely looking at an ABC Elliot wave correction and more downside to come. ..
WIlliams R is a solid indicator to pick bottoms. As the indicator has already turned positive, do you think we could head down to <0.2 williams R again?