(ZOH24) (ZNH24)
You only have to look at the charts below to see how well the Notes held the retracements it needed to keep the trend intact (23.6% and 38.2%) and also how the trend changed on the low at a 78.6% retracement. You can also see on the chart that the high in the 78.6% area at 113.00 already hit the first target of 78.6% the other way at 111.21, the long term target is mentioned in the Video.
The reverse was true for the Oats on the recent break from the 8/30/23 high. Each of the attempts to rally were stopped by either a 23.6%, or 38.2% level. The bottom hit 61.8% on the continuation chart at 338.00, so far the rally has been stopped by another 23.6% level back to the contract high. The retest of the low has held the 78.6% level twice. The swing point and targets are mentioned in the short Video.
We only have a Weekly Update for Grains and Livestock using this tool along with major Gann squares, but we like to do other market to show why, #We believe the Fibonacci retracements are the underlying structure of ALL markets" The ONE44 rules and guidelines are the same for each market.
We have done over 35 videos on the Fibonacci retracements that are Educational and Actionable.
This is our latest one.
The two key videos on the 23.6/ 38.2% retracements and 61.8%/78.6% can be found here.
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