Blog Archive

Tuesday, June 23, 2009

Fibonacci Targets

Above is a spread sheet.
Intermediate A started at 666 and peaked at 956 for a total of 290 points.
That's shown on lines 2,3 and 4 .

The top line shows the percent of retrace.
B waves must be a minimum of 20% of wave A, so I made a column for 20% ,38.2%, and 50%

20% equals 898 and lands right on the Support S3 for today.
38% equals 845, Nothing signficant about that
50% equals 811 which is where wave C would end if it were five times wave B.
I believe there is a rule that says wave C can not be longer than five times wave B.
So 50% would be the maximum retrace .

Analysis presented on this blog has only informational and educational purpose and does not represent a proposal for buying or selling currency contracts.

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