FXGomes
Long

The Fantastic 4 - Potential Reversal Zone EUR/USD

FX:EURUSD   Euro / U.S. Dollar
1095 11 17
The Fantastic 4 reasons for a Potential Reversal Zone @: 1.2257

1. - 0.886 Fib Retracement of AD ( bearish Gartley )
2. - 1.272 AB=CD expected bullish completion on current down leg
3. - 1.618 FE Projection of BC             of current down leg
4. - Lower Trendline of Triangle as strong support level expected

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Good Analysis. I have chart publish also for potential bottom in this area.
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Hi. Thanks for sharing. excellent chart. I had that view for sometime. Great to see others also noticing the same features objectively rather than like many just chanting bearish tone to EURUSD dropping to parity or lower.
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Liked...But where do you get the 1.618 projection from?? Was it meant to be 1.168?
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FXGomes gunne821
It is the 1.618 Projection of BC of current down leg
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gunne821 FXGomes
OK, thnx...You mean the fib retracement at 1.33317, I believe?
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FXGomes gunne821
No i mean the 1.618 projection of 03.10.2014 swing low to 15.10.2014 swing high
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FXGomes FXGomes
you will see it better on the daily chart
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gunne821 FXGomes
So you think, after the bullish completion at 1.272, the EUR will rocket towards 1.618? That's contrary...
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FXGomes gunne821
No this is not what I am thinking.
The bullish 1.272 AB=CD completion is at 1.2248 and the 1.618 FE is at 1.2263 so very closely.

I am thinking that we have a good support zone and therefore a potential reversal zone between 1.2245 - 1.2263 due to:

1. - 0.886 Fib Retracement of AD (bearish Gartley) @ 1.2257
2. - 1.272 AB=CD expected bullish completion on current down leg @1.2248
3. - 1.618 FE Projection of BC of current down leg @ 1.2263
4. - Lower Trendline of Triangle as strong support level expected @ 1.2245

I am not saying that it will rocket, but normally it should complete trigger the retracement of 38.2
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gunne821 FXGomes
Ok, thanks for the explanation...
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