The Complete Guide To Comprehensive Fibonacci Analysis on FOREX by Pershikov Viktor

The Complete Guide To Comprehensive Fibonacci Analysis on FOREX by Pershikov Viktor

Author:Pershikov, Viktor [Pershikov, Viktor]
Language: eng
Format: epub
Publisher: bnpublishing.com
Published: 2014-09-08T16:00:00+00:00


In case, if the AB wave is less than 61.8 % of XA wave, the FE 100% level is unlikely to meet high expectations. An example of such situation is demonstrated in Figure 130.

Figure 130. Projection on USD/CAD, AB <61.8% XA, Daily

Note that correction AB in the figure above has not yet reached the 61.8 % level of XA. In this situation, the FE 100% level fails to act as a price barrier, as can be seen in the chart: when the price reached FE 100%, it failed to push off effectively. In this situation, the level did not act as resistance.



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