BAT is sizzling against a formidable resistance right now.
3 powerful Ratios from 3 different Fibs in tight confluence.
Above is another Triple Cluster with empty space between.
Break above 27 cents should run to high 30's pretty quickly.
But entire market looks due for a pullback so CAUTION.
Small dip before breach of ceiling is probably best case.
Follow up to my Previous Plot that caught the 15 cent bottom
3 powerful Ratios from 3 different Fibs in tight confluence.
Above is another Triple Cluster with empty space between.
Break above 27 cents should run to high 30's pretty quickly.
But entire market looks due for a pullback so CAUTION.
Small dip before breach of ceiling is probably best case.
Follow up to my Previous Plot that caught the 15 cent bottom
Note
Rejected but not dumped.So far there is only a rejection to report: (1H tf)
Especially after travelling this far already.
.
Zoom IN (13 min) for a closer look at the zone and the three fibs within
Clearly all three fibs are in play as expected.
However, the should all be a little weaker now.
The blue 4.236 especially, should not reject again.
Zoom IN more (5 min) and fibbing the Impulse of the pullback:
That is the first requirement for a sustainable move.
ie: This pullback is like to continue.
.
Zoom back OUT (34 min) with the new fib in place:
It is POSSIBLE that the retrace is done.
The new 2.618 may have marked a completed ABC.
But likely we get at least one more leg down.
.
SUMMARY:
- Rejected from first major resistance as expected
- The dip looks like it will continue for at least one more leg.
- All in all this still looks very bullish, to be tempered by the results of this pullback.
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Note
This might be THE ONEWe have a significant breach of the first resistance zone
.
Zoom IN (15 min) and we have several clues, most important one indicated by Blue Arrows:
The other fibs acting like a buffer zone.
Ping from above on the green 4.618 is a VERY good sign.
.
Zoom IN more (5 min) and adding a fib to he last bounce
So I will go with this one for now, as the small tf fib of immediate relevance.
.
Zoom OUT (1 hr) with new fib in place,
That blue fib is still on "probation", yet to really prove itself.
So I will be watching the new zones to confirm or deny the new fib.
.
SUMMARY:
- Resistance breach looks great, should have a green light here.
- 3 new "tentative" resistance zones added, to be evaluated
- Still bullish and expecting a jump to 29 cents then we see whats what.
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Note
2nd Target HitSecond resistance zone hit, and chewing on it now
.
Zoom IN (15 min) and expanded vertically to show all of the fibs in this cluster
Each line alone can be a hurdle, but together the force is strong.
Lets see if it can get through on first attempt (rather unlikely).
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the Golden Ratio is my Religion
the Trading View is my Nation
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the Trading View is my Nation
the Moderator Tag is my Flag
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.