1.2377 is 61.8 extension according to your chart. I would draw them like this on the 4 hrs Chart. A- 1.29 Top B- 1.2698 Bottom C- 1.2575 32.8 Retrace D- 1.2367 1.618 Extension (of the whole swing from top to bottom) 61.8 Extension of A-B-C at 1.2484 ...

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According to your diagram the extension 1.618 should be at 1.2378 and the 61.8 Extension at 1.2477, they are not the same thing.

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Fibs are a great tool, the problem is very few people know how to use them properly, not interested or too lazy to learn how to, so it's better to dismiss them altogether!! I have read studies showing that fibs actually don't work posted by a fellow ...

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USDJPY This pattern failed and this is the good example way we should trade small (like indicated when retracement started) when against the main trend. Price went shy of monthly pivot (15 pips) to return to the upside. We are back to old targets ...

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USDCAD Weekly ABCD still in progress, we have traded this all possible ways using several tfs. We are looking at 1.14 which is MR1 + Yearly R2 pivot, can't exclude move to 1.17, but let's take it step by step.

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GOLD 1177 remains as main target of weekly ABCD, note that new MS1 stands in the same place along with 1.618 Extension. It took ages but that is normal when you are using a weekly chart .

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AUDUSD Price currently challenging 100% Ret weekly chart + natural support, it is crucial to clear this level now to get 0.82 in sight.

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EURUSD Everything remains the same, until I see reversal patterns or reversal candles (major tfs) my bias is short and next target not so far now. 3 Black Crows pattern confirmed after last month's close.

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USDJPY ABCD down 1 hr chart, 109.10 is resistance for this move that could take us to at least 107.85, I am not saying it won't go further down because even 105.79 50% Ret all swing daily chart, is quite possible! Let's see reaction to monthly pivot ...

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GBPUSD Previous setup failed and now 3 Bullish drives right from WS2. Will wait for 4 hrs candle close.

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USDJPY This pair seems set for a larger retracement. Price passed through .786 + weekly pivot and currently trying to get below WS1. I can't exclude a move 80 pips further down to test monthly pivot at 107.85.

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USDCAD Price completed retracement at .447 4 Hrs chart + weekly pivot + monthly pivot + daily S3 as suggested and provided us with very good R:R entry. We are back to weekly targets of major ABCD weekly chart.

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.786 Ret 4 Hrs completed at 108.86.

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Fibs not complete yet! Small pause for daily S2.

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The 4 hrs candle is about to close as well.

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Price has already touched 61.8 Ret 4 hrs and very close to weekly pivot and yes 200 MA 1 hr is there too for extra confluence, there is a pattern as well on the 1 hr chart, but to make recommendations here I need stronger signal, in the longer term ...

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USDJPY Similar to CAD but on this one the pattern is 4 hours so even 109 is a good target. For continuation of the main trend we need to see reversal candle either 4 hours or daily from precise fib levels and confluence with pivots.. I will update ...

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USDCAD Look for weekly and monthly pivots as targets for retracement, as well today's daily candle close will give us a clue on possible depth. This was a Daily pattern so the move can extend even to the new monthly pivot at 1.1078 aprox 50% ret ...

EURUSD

USDJPY Made a mistake on this one. Correction: ABCD 4 hrs is now complete and price closed above WR1. We could have small correction from here but need reversal candle same tf. This was posted here last week. url USDCAD completed it's ABCD daily ...

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Very often after data releases prices complete patterns and turn in opposite direction, so being closer at least should put you on alert mode and prevent you from opening any positions.

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