GBPEUR showing last few years LinREg from the Mean of 2 and 5 along with the 200 sma basically moving sideways. Although the GBPUSD gained 9.2% by December 2023 from its low. looking forward to 2024 with a range between 1.12 and 1.20
The S&P 500 had dropped about 27% from Jan to Oct 2022. From its 13 October 22 low It is still in an upward trend toward a high of about 500 sometime in January 2024
Fibonacci levels going forward, they speak for themselves
Copying HOZ work to understand how to compare two symbols at the same time using the New Price Scale "box" inside the @nd Symbol's selection table
Using a combination of Lin REG Linear Regression and Fibonacci Cardinal points I see a possibility of two pivot points. One in August at 350 and the other in October at 320.
Using Fibonacci chart this gives a trend (using LINREG channel) for two possible market bottoms. 18 August at 345 ( but little happens in August) and around 10 November at 314
Using the two Fibonacci indicators it can be anticipated that the 20% pull back (0.618 from ALT) could be around 380 and touch around the 14 June 22
Z Pullbacks are observed to indicate a price destination, at the exhaustion of the move, by using the Fib drawing tool. Taken from its top to bottom the resultant indication of the 2.6 Fib line gives a target price at the exhaustion of the move. Another rough estimate is to take the length of the Z and add that length twice to the top, the resultant length will be...