Looking at the bigger picture to check reality.
A line from low in 9th March 2009 (point X) crossed line AB exactly on half the way. Look how important iimportant that associated pricelevel (312) was in end of 2009 and beginning of 2010. The line with a ratio 2.13 (a 4th square 0.14% root of 1.618) projected the high in 2015. As it was easy the halfway point 50% level was the low of 11th February 2016. So to speak an important point in medium cycle.
The low from 2009 is approximately 120 points to the 312 line (which is 1/3 of 360degree cycle).
Half a cycle is 180 and if you add 312 you reach a top at 492.
In general I am not sure if market is making a medium-term top in very end of 2016. It could be reasonable to say buyers will dry up and profit taking could lead to a correction in price. Heads up for shorts!
P.S. following ratio applied to this scenario:
square 0.14% root of 0.5 = 0,707
1.707/2 = 0,85035
0.60*0.60=0.36 which is 9number and 360degree cycle number
0.666 number of the sun
1.066 is 1.136 a fibo. ratio
A line from low in 9th March 2009 (point X) crossed line AB exactly on half the way. Look how important iimportant that associated pricelevel (312) was in end of 2009 and beginning of 2010. The line with a ratio 2.13 (a 4th square 0.14% root of 1.618) projected the high in 2015. As it was easy the halfway point 50% level was the low of 11th February 2016. So to speak an important point in medium cycle.
The low from 2009 is approximately 120 points to the 312 line (which is 1/3 of 360degree cycle).
Half a cycle is 180 and if you add 312 you reach a top at 492.
In general I am not sure if market is making a medium-term top in very end of 2016. It could be reasonable to say buyers will dry up and profit taking could lead to a correction in price. Heads up for shorts!
P.S. following ratio applied to this scenario:
square 0.14% root of 0.5 = 0,707
1.707/2 = 0,85035
0.60*0.60=0.36 which is 9number and 360degree cycle number
0.666 number of the sun
1.066 is 1.136 a fibo. ratio