Qqq idea Fibonacci

7 בנוב׳

From the major correction we had by the end of 2021 and that lasted nearly one year. Fibonacci retracement extended levels have acted as resistance as shown . On the figure . The 1.61 has had the price rejected once it is common for the price to slightly go above the level but if the week is ends below it , it would mean the resistance rejected the price and it could move down from here . If the price is kept above this level for the remaining of the week it would mean the breakout is sustainable and the resistance is broke . I am bearish since trump won the elections money could be rotated to energy ,financials ,industrials stocks . That’s just my opinion