Fibonacci GONE WILD

Price went past the 200% retracement level (red line) on the previous chart I posted for this pair and has now offered this setup.

The trendline and 50% fib (110.57) are offering resistance for now.

Hmmmmmmm.......

Watching With Eyes Open

Price is facing trendline resistance. A strong break through would confirm further bullishness.

Price made it to the 100% level and kept on trucking. This is a perfect setup for yet another 200% retracement.

The Pound is just getting slammed!!

100% - 2.0651

76% - 2.0416

Looks like the 76% fib is possibly in the cards!!!

This pitchfork certainly earned respect.

Give it up for the 23!!

The areas of the 61% (109.15) and 38% (110.46) fibs are serving as major support and resistance for now.

This is a 4HR chart of the highlighted area in the previous post.

There is a wedge pattern that has developed outside of the pitchfork. The sqeeze is on!

Yes!!!

Here is a 4HR version of the daily chart. The red lines are the pitchfork and the top yellow trendline is one drawn on the highs of January and April of this year.

There she goes!!!!

Breaking higher.....

The yellow trendline is drawn on the high of July and the low of October and the red lines are a pitchfork.

Pitchfork is still working its magic.

Fibonacci Lines and Pitchforks (Trendlines) used together are great for trade confirmation.

I don't understand how you are making pips off of the way you draw the fibs. Because I don't see where you are using them for retracements. It appears you are going with the trend with it. And do you count out the ABCD bounces at the retracement levels? Please explain your method to your fibs.