Same Range, Same Fibonacci... "Same Retracement?"

Swiss Franc/Japanese YenFXCM

Description

⋅ Dec 4, 2014 12:54 AM

There is a marked long trend tendency with similar resistance and support lines.

Inside that, we can see how the bullish price is strong and has had a retracement of 61.8%.

Both fibonacci are exactly the same, and as we can see, the story seems to repeat.

We can also see how both range have exactly the same % with very similar price unit ranges.

Comments

nh53019

⋅ Dec 5, 2014 5:36 AM

Hi, where do you see this pair by end of dec 2014 and end of Jan 2014.. thanks

nh53019

⋅ Dec 5, 2014 5:36 AM

jan 2015..sorry

Wolf

⋅ Dec 5, 2014 7:19 AM

Hello nh53019. Right now, if we look closely into a shorter time-line chart, we can see that the big bullish leg is still going on and it's currently at a critical point, but without any changes confirmed. So in this case we have 3 scenearios. It continues going sideways and eventually pop out, breaks up or down. I am just waiting for the break to happen. Watch this: