61.8% + 61.8% = 127% ext. // IF=THEN ®

21 בנוב׳ 2015

AUDNZD

With a similar behavior as an 2618: double top followed by a 61.8% retracement;
I do NOT take this as a "default" double top because of the shape, in fact it isn't a double top, but the price action, curiously is the same...

Rounded top, already published before with a broken neck, the price found support @1.07281 (daily support D1), retracement to the 61.8% a few pips above daily resistance D1 (not there yet, but we are "in the zone" and bulls still strong)

Patterns:

Major Bullish Gartley, double 61.8% retacement followed by an 127% extension; (pink)

Eventual Bearish Cypher with point C synced with AB=CD pattern point D; (brown)

Eventual Bearish Gartley to complete @1.12$ (black)

Safe trades;