you did not draw the descending trend line.
45 appears to be a support.
whether it will be decisively broken is another question.
do note that this downtrend started 2 months ago.
looking at the chart, don't expect 5x 10x ...... profit.
support / resistance is not a thin line.
it is a thick band.
at times, the band could be rather huge.
support / resistance is not a thin line.
it is a thick band.
at times, the band could be rather huge.
support / resistance is not a thin line.
it is a thick band.
at times, the band could be rather huge.
Wrong! When fibonacci resistance lines are used it is implied tht the values are the CENTRAL AXIS ..... this means, like you said, theinfluence can stretch = or minus chart millimeters. I call this effect the steam effect.
But the central axis is where the value of the line is and it is an EXACT value