The wonders of Fibs
This is USDJPY on FXCM.
Left pane is Weekly chart going back to 2012.
Right panels are zoomed in views of the circled areas.
The Fib in left pane was drawn from the first impulse in first Quarter 2012.
Each of the fib extensions shown becomes relevant later.
Check the 4.0 Extension at 110.025. Not 110.000, not 100.000 but 110.025
That extension was touched once before (albeit cut though several times)
That extension was touched this month (upper right) to the pip, and twice.
Fascinating for several reasons:
1) The Ripples of a ''Protuberance'' that happened 6 years ago are still clearly in effect today.
2) This asset trades almost a $1 Trillion PER DAY by almost all banks around the globe.
3) Numerous conditions, people, and econs have changed a lot in the last six+ years.
YET, that tiny first wave six years later still directs Trillions of Dollars and perhaps Billions of People to decide that $110.025 is THE number of importance Right Now.
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I am not religious but if there IS a God, then he/she/it will be found in/by/for the Golden Ratio.
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This is USDJPY on FXCM.
Left pane is Weekly chart going back to 2012.
Right panels are zoomed in views of the circled areas.
The Fib in left pane was drawn from the first impulse in first Quarter 2012.
Each of the fib extensions shown becomes relevant later.
Check the 4.0 Extension at 110.025. Not 110.000, not 100.000 but 110.025
That extension was touched once before (albeit cut though several times)
That extension was touched this month (upper right) to the pip, and twice.
Fascinating for several reasons:
1) The Ripples of a ''Protuberance'' that happened 6 years ago are still clearly in effect today.
2) This asset trades almost a $1 Trillion PER DAY by almost all banks around the globe.
3) Numerous conditions, people, and econs have changed a lot in the last six+ years.
YET, that tiny first wave six years later still directs Trillions of Dollars and perhaps Billions of People to decide that $110.025 is THE number of importance Right Now.
********************************************************************************************************************
I am not religious but if there IS a God, then he/she/it will be found in/by/for the Golden Ratio.
********************************************************************************************************************
-
Note
Here is that mysterious 110.025 again.It was surpassed, retested precisely and it have price the permission to keep going.
But only a temporary pass it seems. Now the price trying hard to get past it again, lets see what happens.
Note
Here we are again, that 110.025 proving to be very important Note
Beautiful bounce of that magic line! Note
WOW, another EXACT ping off the magic number: Note
Here we are yet again .
Note
Nice bounce so far. .
Note
Here we are, YET AGAIN .
the Golden Ratio is my Religion
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the Trading View is my Nation
the Moderator Tag is my Flag
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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.
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.