[B]Fibonacci Doubt[/B]

Hey mates

I saw at Action Forex the Weekly Forex Signal: GBP/USD where there a daily chart with a fibo from 1.8674 to 1.3539…My doubt is why the fiboo was not traced from 2.01 when the big downtrade started

thx
Nelson[B][/B]

Please…send this kind of post to the proper recipient, in this case: Action Forex.

Think about it… How in this God have mercy on earth anybody outside Action Forex can answer that question of yours?

It’s the same thing as you post a question asking why Barack Obama married his current wife instead of ditch her a long time ago for a more representable women like Demi Moore or Angelina Jolie? Whatever answer you got, unless it’s from Obama himself, you’ll be the next idiot if you believe it.

It has to do with this statement about elliott wave,

In the bigger picture, a medium term bottom is in place at 1.3503 after GBP/USD completed the five wave sequence from 2.0158 (1.7445, 1.8668, 1.4557, 1.5722, 1.3503)

the other question you could ask is why it was not placed at 1.5722.

All analysts look at different significant points, all are open to
interpretation.