Fibonacci Ratio is useful to measure the target of a wave’s move within an Elliott Wave structure. Different waves in an Elliott Wave structure relates to one another with Fibonacci Ratio. For example, in impulse wave:
Wave 5 is typically 61.8%, 100%, or 123.6% of wave 1
Could we also be looking at an early wave correction? Make sure to keep an eye out for gold.
Am looking at downside on XAU/USD as shown, let me know what we all think and if im missing something, analaysis shows that it has broken the trendline on the 1H and now retested what i would call a nice zone and rejected the 0.618 on the last run :D comment your thoughts and give us a like :)
Keep an eye on this, simple price action on this one and it could continue through just watch for further downside, am keen on taking this one myself if continues with clean price action, let me know thoughts :D
GBP/NZD - am in this one myself am looking for downside and potentially even further than as drawn on but bare minimum for me, let me know your thoughts, feel that it is over extended here personally.
EUR/GBP is looking like it is rejecting the 0.382 so if can continue to reject that zone will be looking for entry as drawn on the chart, let me know your thoughts, thanks :)
Am lloking to take this trade long to the neckline fo the head and shoulders if i see some nice rejection from the strong psychological level of 0.6800, give us a like and comment your thoughts :)
Am looking for GBP/JPY to complete as have drawn on, will look at entering if pulls back and rejects the zone as drawn on, Give this a like and leave a comment :)
On Gold i am looking for upside to 1580 if we can break and close above the resistance zone of 1562 currently, but overall target is anywhere between 1512-1520. Please leave a like and a comment :)
AUD/USD - Am looking for further downside on the pair, head formed a bit of a messier head and shoulders pattern than i would like but still looking for completion and targeting a strong psychological level. Leave a like and comment :)
