So I thought I'd post something for the public archive =) a quick bit of insight!
So its July 2017 and EURUSD has climaxed to a position in which it so briefly reached pretty much the same time in 2016 before toppling for the rest of the year.
Fibonacci sits on the significant levels of price structure prior to the gap which has not yet been filled from April.
- Price has found resistance at 2.168 level which has also been a key in price since 2015
Clones show potential momentum and distance of price movement, whilst the the add to the current resistance and highlight potential future key areas.
There is more technical confluence which I will not list; as you learn more from observing and study a chart visually.
Good potential short on a long term basis in my opinion! However I didn't expect EURUSD to be so this year so who knows =)
Consider short based off Fibonacci rejection
Thanks in advance.