March 2015
Beginner
224 pages
2h 37m
English
Prices near 57.00 show up in the retracement table. This is the 89 percent and so the last line of support for the swing from 56.37, and the critical 62 percent retracement for the entire move up from 54.82.
| From | 54.82 | 56.37 |
| 21% | 59.7 | |
| 38% | 58.7 | 59.2 |
| 50% | 57.9 | 58.7 |
| 62% | 57.2 | 58.1 |
| 89% | 55.5 | 56.9 |
The 57.00 target is not only confluent in the table, but is Dev6 daily corresponding to Dev1 weekly. Whenever a match like this shows up between the daily and weekly, it makes the stop more significant.
| Support | Dev1 | Dev2 | Dev3 | Dev6 |
| Daily | 59.2 | 58.7 | 58.1 | 57.0 |
| Weekly | 57.0 | 55.8 | 54.3 | 51.8 |
The 133.4 area comprises Dev6 daily and Dev3 weekly. This increases the importance of this support level because it's not ...