Plotted here is the major dumping wave. The "Impulse" created "Ripples" of the wave. The "Pings" helped confirm the fib's relevance.
5.236 is the second most common ender of strong waves. 4.236 is the most common end point for average waves. 5.618 is a common backstop for "overshoot" of waves.
IF this can reverse and climb, be alert at the red warnings. Initial resistances will be the 4.236, 2.618, and 1.618 ripples. Final resistance will be the "Impulse Core" with max pressure.
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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".
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