Charts have been messing with me lately...
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The fact that DXY kept showing higher highs had bothered me for a while. Suddenly I realized, I made the error of trying to compare charts with each other, because in the end a lot of confusion struck my mind.
Its funny that I have not seen this chart in the first place, but when I saw it I was flattered by the fact that measurements of the rallies within the recent pullback, is a perfect example of the Fibonacci sequence:
The three rallies can be measured down to 13%, 8% and 5% advances. 13, 8 and 5 are numbers in the Fibonacci sequence.
The last 5% advance shows a perfect butterfly pattern, with a perfect ab=cd, in which both price and time are equal to 200% AB. This alone is a strong signal.
Target: A
I hope most of you guys already knew all of this in advance but somehow missed to share it with me through the comments below, but lets make sure the recent performance does occur again, shall we!!
Good luck to all trading AUD/USD
Its funny that I have not seen this chart in the first place, but when I saw it I was flattered by the fact that measurements of the rallies within the recent pullback, is a perfect example of the Fibonacci sequence:
The three rallies can be measured down to 13%, 8% and 5% advances. 13, 8 and 5 are numbers in the Fibonacci sequence.
The last 5% advance shows a perfect butterfly pattern, with a perfect ab=cd, in which both price and time are equal to 200% AB. This alone is a strong signal.
Target: A
I hope most of you guys already knew all of this in advance but somehow missed to share it with me through the comments below, but lets make sure the recent performance does occur again, shall we!!
Good luck to all trading AUD/USD
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Bat completing at 88.6% retracement on a larger dimension:
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