Delta_X-ray

EURUSD 4H { fibonacci;elliott wave and harmonics }

FX:EURUSD   歐元 / 美元
The building BLOCKS of trading = Fibonacci; Elliott Wave and Harmonics

Please note the attached EURUSD             4H chart should be viewed together with this description. I would also suggest that you have a look at my 3 other published ideas as they are the initial identification of the Elliott Wave formation.

In this chart we can see the both an Elliott Wave and Harmonic Cypher Pattern conforming to Fibonacci levels.

Elliott Wave Points (dark blue)/ Harmonic Cypher Pattern

2 ....................................................... = X
3........................................................ = A
4........................................................ = B
5........................................................ = C
A........................................................ = D

Elliott Wave Observation and Identification Chart Reference = Dark Blue

On the EURUSD             chart attached 1....2.....3....4...5 & A.....B.....C.... represent the eight wave cycle (it should be noted that the market has completed 1 through 5 and is currently trying to establish the first leg of the correction which is point A)

Highlighting the Elliott Wave / Fibonacci Retracements and Extensions correlation:

1 {impulsive wave}
2 {correction wave} & Fib R @ 61.8 of EW 1
3 {impulsive wave} & Fib Ex beyond 161.6 of EW 1
4 {correction wave} & Fib R @ 61.8 of EW 3
5 {impulsive wave} & Fib Ex @ 127.2 of EW 3

Harmonics _ Cypher Pattern Chart Reference = Purple

On the EURUSD             chart attached X... A.....B.....C.... D represent the relevant points of the Cypher Pattern (it should be noted that the market has completed X through C and is currently trying to establish Point D)

Below are the Rules regarding the Cypher Pattern

Once we Observe or Identify that the price action of the under lying asset has had an impulsive move, we label the starting point of the impulsive leg with an X and the end point with an A

Rule 1: When establishing point B we need to be aware of the Fibonacci retracement of 38.2% of XA, price must touch this level. one should also note that price can penetrate the 61.8% but must close above the 61.8 Fib level of XA.
Rule 2: When establishing point C we need to be aware of the Fibonacci extension of 127.2% of XA, price must touch this level but price must close below the 141.4% of XA.
Rule 3:When establishing point D we need to be aware of the Fibonacci retracement of 78.6% of XC, price must touch this level (note Point D is the completion of the cypher pattern and the trading point)

Happy Trading
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