Hi Guys,
I was looking at weekly GU chart to make sense out of this mess...I know we have all been waiting for some serious down move w/ 1.57, 1.53, etc on the list, but the PA has been dizzying this week....So
Draw fib on weekly chart from the bottom of the chart (2008 low) to last years high at 1.7036....
1. It took PA to hit the 23.6 fib 3 weeks and the PA went south approx (1.7036-1.6150=886 pips)...[Although it went a little bit lower next week and we can say that we moved 900+ pips overall to hit 23.6 fib]...
2. After that PA retracted for the next two weeks to 1.6734 and in 7 weeks in total (including the previous two weeks of up move that I mentioned) after retracting to 23.6 fib, we hit the 38.2 fib level at 1.5692 ...(Total move= 1.6734-1.5692=1042 pips )...approx. 1050 pips...
Question: look at 3 and 7 (weeks ) figure ...when do you expect the retraction to 50% fib to happen?...
I was just looking at weekly chart and just as a conjecture tried to find a relation between 3, 7 and as the next number of the weeks...I tried (2n+1), where n corresponds to the previous number of weeks...So I thought if there is anything to go down, it should happen in 15th week after hitting the 38.2 fib...
and guess what/...It works just fine...i.e., we have spent 14 weeks after hitting 38.2% fib to come to this point and next week (corresponding to the 15th week) and if you look at the magnitude of the down moves for the first two major moves (900 for the first one and 1050 for the second one), I guess the third one should be a more violent one compared to the previous ones...something more than 1050 pips....I know the idea of GU moving over 1000 pips in a week sounds weird, but just take a look at what EU did today....this move, if it happens, will definitely take us to 1.57 first and to 1.53 after that....
Just a thought...You are very welcomed to say a COMPLEX one....
I was looking at weekly GU chart to make sense out of this mess...I know we have all been waiting for some serious down move w/ 1.57, 1.53, etc on the list, but the PA has been dizzying this week....So
Draw fib on weekly chart from the bottom of the chart (2008 low) to last years high at 1.7036....
1. It took PA to hit the 23.6 fib 3 weeks and the PA went south approx (1.7036-1.6150=886 pips)...[Although it went a little bit lower next week and we can say that we moved 900+ pips overall to hit 23.6 fib]...
2. After that PA retracted for the next two weeks to 1.6734 and in 7 weeks in total (including the previous two weeks of up move that I mentioned) after retracting to 23.6 fib, we hit the 38.2 fib level at 1.5692 ...(Total move= 1.6734-1.5692=1042 pips )...approx. 1050 pips...
Question: look at 3 and 7 (weeks ) figure ...when do you expect the retraction to 50% fib to happen?...
I was just looking at weekly chart and just as a conjecture tried to find a relation between 3, 7 and as the next number of the weeks...I tried (2n+1), where n corresponds to the previous number of weeks...So I thought if there is anything to go down, it should happen in 15th week after hitting the 38.2 fib...
and guess what/...It works just fine...i.e., we have spent 14 weeks after hitting 38.2% fib to come to this point and next week (corresponding to the 15th week) and if you look at the magnitude of the down moves for the first two major moves (900 for the first one and 1050 for the second one), I guess the third one should be a more violent one compared to the previous ones...something more than 1050 pips....I know the idea of GU moving over 1000 pips in a week sounds weird, but just take a look at what EU did today....this move, if it happens, will definitely take us to 1.57 first and to 1.53 after that....
Just a thought...You are very welcomed to say a COMPLEX one....