While this proves Fibonacci does not predict direction, it does show how you can use it to predict targets on the downside.
I find it helpful, as in the ALD trade in an earlier post, to measure red bars/candles, and to see where uncharted terrority is.
That drop on 6/9 measures to .06. The drop on 6/11 measures to .14. The drop on 6/17 measures to .08. If EBHI continues below .14, watch for support around this area (.06-.08)
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