George A
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Judith,
Something else i want to draw ur attention to, which is what i have observed while watching the market long and deep enough , and it is the following and u can also test it every time .
there is something MAGICAL ( although it is ONLY nature working at its best, which is exactly how the fibonacci is applying in our world ALL over in everything we see and YES including the market ) ,, and that is the power of the 161.8 ,, 261.8 and 361.8 EXTENSION FROM the very 1st RANGE in any run and here is another very current example ON THE DAILY CHART , and as much as this MAY SEEM irrelevant to many people( which i have NO problem with that ) ,, BUT reality can NOT be ignored .
The last top we had was the 29/8 and the very first swing on the daily was the little low on the 5/9 then followed by the spike the next day giving us the 1st lower high , NOW test this first range with the fib extension and see where the current market of the week we are in now since 14/12/2011 ,, u will see we will have a target of around 2985 being an extension of 261.8 of that 1st range , NOW test it and have a look at the market reaction in relation to that level .
I see it happen time and time again beyond any doubt in my mind .
Another one that will blow u away and its the current intra day action on the short time picture , which is the run up from the last low 14/12/2012 and u will see it best on the 1 hour chart for the detail as the 4 hour chart will NOT show the high because both high and low are on the same bar ,, and these charts will show u the BIGGER picture as appose to using 15 mnt chart ,, we had the low on that date 16.00 chart time and then the first high(BEFORE the 1st HIGHER LOW ) 15/12 ,, 09.00 chart time followed by the 1st HIGHER low the next hour at 10.00 chart time ,, NOW test it with ur fib extension and have a look at the BIG sell off last night ( for me that is in Australia ) at the LAST HIGH ( i try to draw them as accurate as i can ,, target 1.3196 - 1.3197 with the highest price on that bar was 1.31958 on LUCROR chart price ) which looks like it was the C of the full elliot wave (on the BIGGER picture ) , and u will see , and i will say IF not exact it was ALMOST the EXACT price on the 261.8 extension of that 1ST range i keep talking about ,,, its just too often and too accurate to IGNORE ,,
I hope this will open ur mind to something that MAY HELP you and everyone here on this wonderful website ,,, it is ONLY a small contribution to the great knowledge everyone is sharing here , with MY THANKS to ALL ,,, and i am ONLY doing my job to be apart of it all .
Cheers ,
George
P.S. IF i made any errors on price or dates pls let me know,, but i did check it,, its the old age thing if i did hahahahahahha
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