ONE44 Analytics where the analysis is concise and to the point
Our goal is to not only give you actionable information, but to help you understand why we think this is happening based on pure price analysis with Fibonacci retracements and Gann squares.
You can get all the rules and guidelines to the Fibonacci retracements on our website
Every week's range for the last seven has traded at the 555.75 major Gann square and gone nowhere up to this point. Our target on a break from this area is the long term swing point of 470.00, this is 38.2% back to the 4/29/20 low. Before then look for the area of 520.00 and 510.00 this is first a major Gann square and then 23.6% back to the 4/29/20 low. There is one other major Gann square to look for support at 484.25.
Provided they can close and stay above the 555.75 major Gann square, the long term target is 640.00, this is 61.8% back to the all-time high. Before then look for resistance at the two other major Gann squares at 588.75 and 620.25.
The Beans have also been up against a major Gann square at 1436.00, the first break from this level took it to just above 23.6% of the move and a major Gann square at 1292.00. The second rally up to it had one minor close above it and then closed right back below it and with today's close, it is below 1410.00, this is 61.8% back to the all-time high. Our target on a break from this area is our long term swing point of 1200.00, this is 38.2% of the move up so far. Two other areas to watch for support on a break is the 1360.00 major Gann square and then the area of 1300.00, 23.6% of the move and 1292.00 a major Gann square.
With a solid close above the 1436.00 major Gann square look for the long term target of 1588.50, this is a major Gann square and 78.6% back to the all-time high.
Sign up for our Free newsletter here.
This is our latest video in an ongoing series of how to use the Fibonacci retracements. Even if you do not trade the market covered the rules and guidelines are the same, as we believe the Fibonacci retracements are the underlying structure of all markets.