Technical analysis by ADmytrenko2 about Symbol GNO on 6/12/2024

Many people like to trade using short squeezes. Rather than entering when the financial instrument is in consolidation stages, we enter when the squeeze has broken out (short squeeze is in play already), but has pulled back to the EMA. Using the most recent low and most recent high, we can predict the price target through the use of Fibonacci levels. For some it doesn’t work as successfully, because the tool is used at the wrong market conditions. When volatility is there, it is a very accurate tool.