Possible Double Bottom on CHFJPY: Fibonacci Time Perspectives
I really enjoy reading the contributions from all of you. One fine contributor is Piet.Hein.
I read his recent work about a double bottom in CHFJPY. I was curious if there were Fibonacci time cycles for this trade.
The above chart is what I found. With a Fibonacci start date of just before April, 2015, there has been a correlation to Fibonacci time cycles and CHFJPY event dates.
For example, Fib 1 indicated a breakout to the upside. Fib 2 indicated a pivot point reversal to the downside, as well as a phase energy reversal.
Other fib events are highlighted in red.
The event at Fib 8 was the first attempt at a bottom. This is valid until technicals prove otherwise. The jaws of the alligator are opening to the upside, but just barely. There is a lot of resistance at 114.90. The price cold get slammed here. Right now I view the double bottom holding at 55% yes, 45% no.
I would want to see the phase energy (top red and green bars) put in a higher high as we go forward in May, 2016.
Again, many thanks to Piet.Hein and all of his fine work.
I would like to close with a quote from Joyce Mattingly:
"There are three books my daughter felt were the most important influences in her life: the Bible, her mother’s cookbook, and her father’s checkbook".
I hope this has been helpful, entertaining, and informative. May all of your trades go well. Don.
I read his recent work about a double bottom in CHFJPY. I was curious if there were Fibonacci time cycles for this trade.
The above chart is what I found. With a Fibonacci start date of just before April, 2015, there has been a correlation to Fibonacci time cycles and CHFJPY event dates.
For example, Fib 1 indicated a breakout to the upside. Fib 2 indicated a pivot point reversal to the downside, as well as a phase energy reversal.
Other fib events are highlighted in red.
The event at Fib 8 was the first attempt at a bottom. This is valid until technicals prove otherwise. The jaws of the alligator are opening to the upside, but just barely. There is a lot of resistance at 114.90. The price cold get slammed here. Right now I view the double bottom holding at 55% yes, 45% no.
I would want to see the phase energy (top red and green bars) put in a higher high as we go forward in May, 2016.
Again, many thanks to Piet.Hein and all of his fine work.
I would like to close with a quote from Joyce Mattingly:
"There are three books my daughter felt were the most important influences in her life: the Bible, her mother’s cookbook, and her father’s checkbook".
I hope this has been helpful, entertaining, and informative. May all of your trades go well. Don.
