Quantum Res..
Fibonacci Downside Calculation is done where you take a down move and in this case it was 100,000 not long ago which shows in this chart that a bear market preceded it. Then after when a bear market has any kind of rally in some form of significance and this one is of that and especially when the resistance and support handles are very established and that is very much the case as seen below than you use the following formula to see where the market will head to
(High / Low) ^ -0.618 * Low and in this case the answer is 23,457 which is the area I have placed my buy order.
I have noticed the success rate on this very high in the past where it bottoms there and some sort of rally whether real or failed to follow.
Hourly Chart below (not 1min)
Derek
