Right now EURUSD is on a resistance, first its restesting and with Trend-Base Fib Extension I measured three retracements (3 different triangles), Basically you have to measure the Higher High between a retracement and swing all the way down to form your triangle and get your measures on top. 1.272 and 1.618 are the areas that tell where its going to turn back, 1.414 is just an intermediance. So we can see Red-Retracement reached exactly 1.272-1.414 and turned, then Blue-Retracement kept retesting between 1.618-1.414 and turned, Black- Retracement was a measure of the entire impulse we can see how its respecting 1.618-1414, now im expecting to short
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Right now its on resistance 1.19928
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Areas of retracement
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1.618 has been reached
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After to much consolidation at 1.618 a flag was formed, I measured impulse placing 0.236 right on top and we can see how it consolidated between 0.236 and 0.5 retracements, also used fib extension to confirm -0.27 and 1.618 right below. Good Trading. - 4h Chart
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Trade has been completed exactly at 1.618 with 235.4 pips, at this point expect some retarcement or consolidation around that area. - 4h Chart Good Trading.
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Possible 2618 trade could retest on previous resistance. - double floor - follow impulse measuring with fibonacci - retracement at 0.618 Double Floor + 0.618 = 2618
Also -0.618 is exactly at 1.618 from Trend-Based Fib Extension which confirms retest for previous resitance. - 1h Chart Good Trading.
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As we can see 2618 trade was correct and about to reach -0.27, normally 2618 trades are completed at -0.27 which means we can be bearish at this point. Good Trading. - 1h Chart
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Well look at that we reached -0.618 making a perfect retest on previous resistance, as we can see at this point it's bearish, which if you didn't enter at top then wait for flag or consolidation. Good Trading. - 1h Chart