HERE IS ANOTHER EXAMPLE OF WHY I CALL THIS PATTERN A STAIR CASE OR STAIRS, WHICH ENDS WITH A U SHAPE.
THE RATIOS ARE: 23.6-38% RETRACE BETWEEN A STRONG MOVE,
THEN A 76 % FIB EXPANSION CONTINUATION OF THE MOVE
WHICH THEN GOES INTO A 38% RETRACE.
AS ALL TECHNICAL ANALYSIS, THERE ARE A BIT MORE MATHS INVOLVE BUT IT'S MOSTLY EXPERIMENTAL. THE TREND ANGLE FOR EXAMPLE IS A GREAT TOOL TO UTILIZE DURING ANALYSIS, IT ASSIST IN PREDICTION WHEN COMPARING TIME PERIOD AND PRICE.
HAPPY NEW YEAR, I WISH FOR EVERYONE A PROSPEROUS 2016!