When demand or supply shifts occur rapidly, momentum moves occur.
The broader markets and stocks have fallen very far historically in a short time.
What was thought to be “Oversold” became more and oversold!
Traders relying on an indicator-based mythology, Fib Levels and Trend Lines are lost.
The idea of prices being oversold, drawing lines or measuring between points that create support and resistance are misleading and not be a reason to consider a price reversal.
With a compelling Master Trader Setup; ideally at a prior swing high or low, the of a counter-trend trade increase exponentially.
