chart, page-2

re: chart study christianp Couldnt have put it better myself
and look what happened..lol
Mate we have to consider another solution.
Acouch uses the distance from the MA as an oversold indicator
on this one I used the 30period weighted in red
the fib base is a bit lower than yours and was selected by software and is in 1/8ths including extra 38 and 61 % lines
the trendlines are standard error deviations
while 100 fib is tempting and today was only back filling a gap down. I cant see another 110
this would also confirm it is at the bottom of the Final elliot C wave down ( 5 up three down)
regards
john