Keeping it SIMPLE

2020年11月20日

Most all traders have brushed up on their Fibonacci levels. Some like the 61.8% retracement for entries. Others like to use them all and clutter their charts with lines every 0.5 points. I like to keep it SIMPLE and admire the beauty when price just respects the halfway point of the 50% retracement. I noted this in another post a few days ago about ETHUSD setting up a potential breakout. That consolidation did not lead to a trade but price was definitely showing respect for the 50% level at 467.67. Sure enough I wake up today to news that Ethereum is over 500 and it all launched off that level. Beautiful!