


0.618
So thought I'd share this - Here's something Ive noticed on the Monthly Chart - A perfect Bullish Butterfly completion retracing to exactly a .707 from the 2000 lows to the 2008 highs. If I'm right in thinking - Buttefly often tend to have quite sharp reversals.... Definitely got RSI looking right, and also out of interest had noted that the DXY had retraced a...
Following strong down trend expecting retest of 0.618 of last up swing before potential new buyers near low if price reversing....
The break of the 1180 level, however hard to accept did seem to be indicating it was going to happen with the lower highs as it bounced down. The 1180 level certainly provided a natural bounce up to 1200 but the strong return of trend was its death knell. This 1154-1160 area is interesting because its at the .618 retracement of the 2009 low, and at a .886...
Just been playing around with both Time and Price and see this potential reversal Zone for EURUSD. There seem to be several cycles converging on or around 10 October as evidenced in the chart with Fib Confluences ( top of chart ). I'm guessing to watch around the .886 - .941 retracement area for signs of reversal should the Bullish pennant act as support. Note the...
Heres an idea for lower time frame moves if people are thinking of a reversal from a bullish cypher on the Daily. Currently price is driving down with some divergence on lower time frames and will be completing a Bullish Butterfly / Deep Crab on the 30 min chart. Pros: The D point is aligning with the larger pattern at an .886 retracement / Its also at a 2.27 XB...
Probably will range a little then fail to the downside and continue on bearish trend. Still, at present seems to be showing signs of recovery and making higher lows.
Short at 163.200 - range to 164.500 based on previous AB=CD expansion
Good AB=cd projection completion near or around 2019