EURUSD Initial Targets Hit Potential Counter Trend ABCD Pattern

24 Sep 2020

EURUSD
Link to Related Idea Below...

Price Low EURUSD: $1.16514 Tested and Held at $1.1652 Locally!
As of the moment of publishing EURUSD Price: $1.1673

I break down the target prices for WXY & ABCD Patterns:

ABCD(revised) 1.618 Extension Target = $1.16507 (EURUSD Low=1.16514) Fractional miss; Target Considered Hit!
WXY "Y" 100% Extension = $1.16426 (Front Run?)
abcof ("X:Y") 138.2% Extension = $1.16462 (Front Run?)

AB-CD Counter Trend Potential Targets:
38.2% Retracement = $1.17889
50% Retracement = $1.18314

24 Sep 2020

Nota

Look for LOCAL "Higher Low"($1.1625); If hold, then possible retracement from ABCD(AD Retracement)
14% $1.1680
23.6% = $1.17173
38.2% =$1.17735
50%= $1.18189
Much different than original estimates.
The ABCD Targets are now invalid according to the low reached today!($1.1625).
Should there be a 38.2% or 50% retracement, we are now looking at possible adjusted retracement levels:
14% $1.1680 (Level Hit!)
23.6% = $1.17173
38.2% =$1.17735
50%= $1.18189
The ABCD Pattern extends either 127% or 161.8%. The move down to $1.1625
is a 177.4% extension of AB:CD. Is this arbitrary? Please leave a comment if you will!