A 61.8% Fibonacci retrace, where a correction ends and the original trend resumes, is common. But a slightly greater 88.6% retrace indicates a “point of no return,” or River Styx, that can still hold to resume the prevailing trend.
Study the setup’s historical occurrences here:
This setup has occurred on the following dates:
- 1-26-21
- 2-24-21
- 3-23-21
- 4-21-21
- 07-01-21
- 8-18-21
- 09-10-21
- 12-01-21
- 12-10-21
- 1-27-22
- 03-03-22
- 3-15-22
- 6-01-23