Are the markets soft his morning due to the news from Korea or does it have more to do with the “key fibonacci 61.8% retracement” levels that have taken 6 months to form?
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Do we really know why the markets are soft or does it really matter???
I remain of the belief that harvesting up against key fibonacci resistance,when rising wedges have taken shape, remains a quality risk management strategy!!!
For aggressive investors, these key resistance levels provide a great entry point to score on defense! Yesterday I shared that a quality “TIME AND FIBONACCI” was at hand, BEFORE the Korea news! (see post here)
I continue to believe the “Power of the Pattern” is a tool that can help us inflate portfolios regardless of market direction.
Sure Fib, but what about the dollar?