Fibonacci GONE WILD

Here is the daily chart I've been posting of Pound/Yen broken down to the 4hr. The second is a closeup of the upper fibs.

Note: Going forward, I've decided to leave the secondary fibs drawn in the same manner as the original fibs in all charts (to reflect symmetry). This will end up causing the fibs drawn backwards on some charts..

Here is the euro/yen daily chart which is followed by a closeup of recent price action on the 4hr.

Here is a daily chart of the EUR/USD followed by recent price action on the 4hr.

Price has been consolidating between the 23% and 76% for a few weeks now on the daily.

Here is a different chart for the pound/yen. Look at how price retraced the entire range of the bottom fibs and bounced off the bottom.

Symmetry refers to a move of similiar size (100%) or the other important fib nbrs 61.8% and 161.8%. but 23.6% / 38.2% / 50% / 78.6% these are retracement nbrs. You might find use for them for similar moves in the opposite direction but I have never seen them used that way.

Here is how I learned fibs should be projected for moves outside the 0-100% range. Some call them external retracements, using 127.2% / 161.8% the main ratio's plus 200% / 261.8% and 423.6%.

Thanks for the quick lesson SunTrader. I'm very familiar with how fibs are regularly used. The way I am using them is unorthodox to say the least. When I say symmetry, I'm referring to the drawing of the fibs, not necessarily where price will go. However, in some cases, price does move the entire range of the secondary fibs and reverses. It also does this on inside fib lines as well (i.e. 23% to 23%).

Due to price breaking the bottom of the original fibs on some charts, I am drawing fibs on new ranges. Here is a 2hr chart for CAD/YEN.

Look at how price made an initial bounce off the 23%. If you have been paying attention to previous charts, prices does this quite often upon breaking out of the original fibs range.

Are the bears about to make another assault?

Note: The EUR/JPY and CAD/JPY charts are 2hr instead of 4hr.

????

These Two Pairs Are Just Enjoying The Channel Ride

Price was just rejected at the 38% fib.

Yet another perfect bounce.

VOILA!

This Chart Has Great Potential Moving Forward In Time

The Euro completed the 100% move to the upside as of today. Could be a posible top for now. Time will tell.

ENTRY DENIED!!!!! (thus far)

BUSTED!!!!

Watch for a possible bounce off the 100% fib which would be around the 230.40 area.