FIBONACCI

Page 3

Below is a clear example of FIB perfection! This GBP/AUD weekly chart completed a bullish A,B,C,D pattern. The 38.2% FIB retracement level held extremely well, launching the price into new high territory with an almost perfect reaction from the FIB D2 extension level. Once a Fibonacci A, B,C, D has been completed we can now go ahead and draw a new FIB from the FIB C point up to the FIB D point (reversal level). This is ideal for a new FIB wave if the market decides to ~pullback before going even higher. 

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As you can see, once a Fibonacci setup has been completed, a new FIB can be applied from the previous FIB C (Now new FIB A) up to the previous FIB D (Now new FIB B) These points are displayed below (highlighted green) with the new FIB tool displaying the potential FIB retracement levels for a potential new higher low to be formed triggering a bullish trend continuation (With targets projected to the new FIB d extension).

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