EURUSDLink to Related Idea Below...
Price Low EURUSD: $1.16514 Tested and Held at $1.1652 Locally!
As of the moment of publishing EURUSD Price: $1.1673
I break down the target prices for WXY & ABCD Patterns:
ABCD(revised) 1.618 Extension Target = $1.16507 (EURUSD Low=1.16514) Fractional miss; Target Considered Hit!
WXY "Y" 100% Extension = $1.16426 (Front Run?)
abcof ("X:Y") 138.2% Extension = $1.16462 (Front Run?)
AB-CD Counter Trend Potential Targets:
38.2% Retracement = $1.17889
50% Retracement = $1.18314
Note
Look for LOCAL "Higher Low"($1.1625); If hold, then possible retracement from ABCD(AD Retracement)14% $1.1680
23.6% = $1.17173
38.2% =$1.17735
50%= $1.18189
Much different than original estimates.
The ABCD Targets are now invalid according to the low reached today!($1.1625).
Should there be a 38.2% or 50% retracement, we are now looking at possible adjusted retracement levels:
14% $1.1680 (Level Hit!)
23.6% = $1.17173
38.2% =$1.17735
50%= $1.18189
The ABCD Pattern extends either 127% or 161.8%. The move down to $1.1625
is a 177.4% extension of AB:CD. Is this arbitrary? Please leave a comment if you will!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.