United Airlines - Coincidence or the magic of Fibonacci? Short

Description

⋅ Apr 13, 2017 2:42 AM

Hey guys, I'm sure many of you heard about the United Airlines incident which is all over the media.

I had some time to spare today and I decided to check out the charts of the company.

This is my observation

Pattern Identification

Bearish shark completes at $75.

If one were to trade UAL based purely on harmonic patterns.

EP: $75
SL: $83
TP1: $57
TP2: $41.65

The value zone to buy low for UAL will either be at $57 or $41, depending on whether there is a nice bounce off the RSI OS zone.

This makes me really question the effectiveness of Fibonacci numbers, are these numbers really that magical or could it be just a coincidence?

Comments

JinDao_Tai

⋅ Apr 13, 2017 3:00 AM

funny, i was actually just thinking that!!
5minutes later i see this post.

Can you do some harmonic pattern analysis for currencies, if trump's recent speech about the currency strength could have been predicted?

TerryHarmonicTrading

⋅ Apr 13, 2017 3:03 AM

@Jin_LCMSTraders, hey buddy, great to see you here! I will take a look at a few more later on but DXY's move up before last night's drop was also after a pattern completion.

JinDao_Tai

⋅ Apr 13, 2017 5:39 AM

@TerryHarmonicTrading, you recommended for me to join and share, sure must try =D

Interesting for the DXY