This EURUSD (M) above graphically depicts how every turn since Oct 2008 had bar counts that can be found in both the Fibonacci Series, Lucas Series & The Doubles ( Doubling each number in each series ), I'll let you guys look up Edouard Lucas (1842-1891). The French Mathematician who identified a second series of number beginning with 2 and 1 ( in that order which are added to arrive at the next number in the series 3 ( See Table on chart ) The math that proves the relationship of both series can be shown below.
1. Dividing a Lucas number by the next number in series will get you closer to 0.618 ( Same as Fib Series )
2. Take a Fibonacci number and double it, now add it to it's neighbouring Lucas number and see what you get. ( See table on chart eg. 2 x (Fib5) = 10 + (Lucas11) = Fib21! and so on. )
3. What do you notice about the two Fibonacci numbers either side of the neighbouring Lucas number ( See table on chart eg. (Fib5) + (Fib13) = (Lucas18) and so on.)
4. Multiply a Lucas number by it's Fibonacci Neighbour in the Table on the chart eg. (Fib3) x (Luc7) = Fib21 and so on.
5. This one shows the importance of the Doubles of the two series, Begin with (Fib5) and its Lucas Neighbour (Luc11).
Now locate the 3rd Fib number on either side of (Fib5) ie. (Fib1 & Fib21). Now, adding them together gives you 22 which is 2 x (Luc11) = Double Lucas 22. Now try (Fib8) & it's Lucas Neighbour (Luc18)...........I'll let you figure this one out. Can you see these Double Lucas numbers on the chart?
Therefore we can conclude that almost always when we see a Fibonacci Bar count there is a Lucas, Lucas Double or Fibonacci Double nearby. Now here's the kicker, what do you think happens when you get multiple counts from previous major tops & bottoms all terminating on a particular bar that also lines up with a major range retracement level like the 50%, LIKE LAST MONTH:)
I'll let the chart answer the question.
PS: An Interesting Observation Since Nov 2005 the Major Turns have always resonated with price levels around the 1/4 and 1/8 Divisions ( See Chart ). This is important if the major trend turns South!