Journal · 18 June 2026
When a 0.618 meets the prior day’s range
In the Korean cash session the prior day’s high and low are often the first argument in the room. A Fibonacci ratio has to earn its place beside them.
Two sheets, then one
We print the swing on one sheet and the prior day’s range on a second. The sheets are laid on the dark table so the lines can be seen together. Only after that do we decide whether they belong on the same page.
A 0.618 that falls inside yesterday’s range is a crowded place. A 0.618 that sits beyond yesterday’s high, with air around it, is a different kind of reference. The ratio did not change. The neighbourhood did.
What we refuse to add
If the 0.618 misses yesterday’s high by a wide margin, we do not pull in 0.5 and 0.786 hoping one of them will kiss the old high. That is how a chart becomes a pile of lines. The miss is information. We write “no confluence with the prior high” and leave the ratio set we already chose.
Students who trade the afternoon sometimes want the morning’s spike included as a third anchor. We look at it. A brief stab that never held the session is a weak origin for a retracement of the whole day. The prior day’s range is usually the cleaner second voice.
A sentence for the pair
When we do keep both, the note names them together. “0.618 of the Monday-to-Wednesday swing, sitting on Tuesday’s high.” If you cannot say it that briefly, the confluence is probably decorative.
Extension levels can join this conversation later, in the Saturday clinic. On Tuesday evenings the prior range is allowed to speak only to the retracement.