Normally we search for the golden fib retracement after a double bottom or a double top forming the 2618
Let's see how the price will behave after one inverted head and shoulders, followed by the 61.8% fib retracement.
We expect the pattern to form one symmetrical ab=cd pattern above the weekly fractal support at 23.37, also the default target for...
One technical double bottom reinforced by the most recent daily fractal support printed at 1.38682, one broken neck at 1.39608 and the most recent 4h fractal resistance printed at 1.40488 right above the default target for the double bottom projected at 200%, and a couple of points above the golden 61.8% fib retracement level.
The bullish 2618...
After forming one technical double top reinforced by the weekly fractal as resistance printed at 1.26479, the cabe is now trading below the neck/support zone with the most recent resistance between 1.22499 and 1.22966, the 4h fractal and the daily fractal resistance.
The most recent support is now positioned at 1.21615 (4h fractal) and the daily...
Head and shoulders formed above with default projections at 200% fib extension (1.09533);
Bullish crab and shark patterns projected at 1.09593 at 161,8% fib extension;
Eventual double bottom: neck and validation point above 1.10956 (daily fractal resistance) & default target above one broken neck around 1.11997.
Technical double bottom validated by the neck/resistance breakout | resistance above the broken neck | retracement to the golden 61.8% fib | 1st target for the pattern at previous structure highs (resistance above the neck) | default target for the pattern forming one eventual symmetrical ab=cd.
Now rejecting the weekly resistance forged at 9.16481 after printing the new daily fractal above it, at 9.20410, forming one eventual right shoulder. Default targets below one broken neck projected around 8.86950, right at the weekly fractal support, which is positioned at 8.87520."
- at Forex Analytix
Positioned at 67.97, the 127% fib extension from the previous bearish swing - from the top to the previous structure support forged last April the 1st - and at confluence with the internal extension at 161.8% fib.
Now threatening previous structure resistance, it's also the bullish alt bat pattern default first target, the 38% fib retracement.
The inverted head and shoulders default projection will put the price at previous structure support forged last March 1st, positioned at 1.2164.
The bearish deep crab pattern positioned at 161.8% extension on hold at...