Of course, we caught the ext. in the W:5 because I set my target @127.2% ....Murphy's law is glued to me.

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Edit: I removed unnecessary levels.

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No steFX85 I am serious, this post of yours in 100 years will be read like Adam Smith's books.

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Kayi, I always think how patterns unfold before I get into or out of the trade..BC leg can unfold in 1-2-3-4-5 or 3-3-5...Now if B is taken out we have a different ball game. I hope you didn't miss @steFX85 post about the structure 3 weekends ago ...

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gettoefl, I guess good lord didn't bless me with enough brain to dissect your chart.....lol

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Kayi, the market hit yesterday's daily range ext. at 1.618% so the ride to the upside for the rest of the day might not be that smooth...but the pattern is still bullish on intraday chart.

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Moumon, it's calculation from Fibonacci sequence..............1,2,5,8,21,34,55,89,144,233...........if you divide any number by the fourth number back the result will be 6.85 exp's...144/21=6.857 233/34=6.852 and so on...Good luck with your trading.

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Kayi, we don't know if retracement will be one leg or a-b-c...it's the end of the day I trail aggressively (1 BL on 15 min chart).

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image image

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same here gettoefl.....

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Yes gettoefl, but the zone has to hold and change of the trend has to occur (TLB 1-2-3 formation)

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still one level to hold..but very thin

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I bet on the upside today until proven otherwise...and yes, today banks in the USA are closed.

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most likely because they trade their own plan...just the thought.

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not related to current price action ...just answering PM here

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sponge, I am not sure I know what you mean by standard Fib time zones...

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sponge, Elliott wrote in Nature's Law: "All human activities have three distinctive features, pattern, time and ratio, all of which observe the Fibonacci summation series ...the most important of the three factors is a pattern. The pattern is always ...

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NY Time (estern time US & Canada)

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the similarity in time to the prior measured move (symmetry- 2 red arrows 61.8-100%)

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The chart with updated W PP( sorry for that) and time zone for completion of the pattern.

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