Above, Daily
Below, Hourly
This is one of the first postings of this charting software from MarketScope 2.0 (FXCM). As such, the indicators presently in use here are Williams Alligator, 5-34-5 Elliot Wave Oscillator (MACD), Williams Fractals, Harmonic Pattern (AB=CD,Butterfly,Bat,Crab), Zig-Zag Counter (6 Bars, 20 Pips), & ShowTimeToEnd (Estimation to Final Print of Bar, 33%, 15:58:12). Also present, the Gann Fan drawing tool, a priceless addition! For instance, notice on the hourly how price came in precisely, to the tick, and formed a double top at the 2x1 Gann Fan before a sizable trade back down to the Alligator Jaw where a beautiful re-entry was made on the indication of a Fractal. Bill Williams taught this as an ideal buy setup, when price is above the Jaw line (displaced 13 period MA of median price), on a retracement creating a Fractal.
The .786 Fib Retracement held up on a closing basis on the hourly interval. Prices have rebounded over 100 pips to the upside off of this support level. It is certainly of note that the retracement corresponded with the 4x1 Gann Fan, giving it all the more credence, especially on the re-test, after the failure, on the move up to the .786 from below, on the hourly.
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