Fibonacci GONE WILD

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Let's see which one price will reach first.

WE HAVE A WINNER FOLKS!!

Now let's see if price will break higher and hit the upper target or return to the daily lows, with the possibility of making new lows and targeting the lowest target area.

...AND THE FOLLOW-UP

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Can you please explain your chart?

It's just a standard pitchfork with the red lines representing the mid-point (50%) between the median lines. Whichever way you think price is headed, the highlighted areas are high probability targets (and potential support/resistance)

The red channel lines in this chart represent warning lines based on the angle of the upper median line of the original pitchfork and the high made after price broke outside of it. A copy is then made and the middle median line of the original pitchfork is used as its base.

It's all about symmetry.

I'm late in getting around to seeing this setup.

There is a lot more going on with this chart, but I wanted to highlight this aspect of it. I was being conservative with the pips on the short trade. Price could very well return to the area of the swing high at 213.88 or even the yellow trendline if resistance holds at the middle median line.

I forgot to add this important descending trendline. Price should be in for a hell of a fight to the upside once it reaches that area.

However, if price waits until the end of the week to reach that area, and closes there, I wouldn't feel as confident in taking a short trade at that point (although it still could happen).

1st Bottom Target Acheived

1st Bottom Target Achieved

Target areas weren't hit today, although price did make a nice move up from support. I expect price to make it to at least one of the targets before the end of the week.

1st Bottom Target Achieved

Time for an upgrade to the 4hr chart.

2nd Bottom Target Area Hit

I've added a sliding pitchfork and highlighted new potential targets, of which I'm looking for price to reach at least two before the close of the week.

That's one...

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