11:24 AM

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Follow-up to the post in the Skype Group

Dave

Ok you can see the retrace and the extension to and past the 1.0 target. Again I don't like the 61.8 retracements much so I was mainly watching for the touch of the 78.6 in this case. If price had retraced to the 78.6 then this would be a classic example of a AB=CD pattern of which the fib extension would have be the 1.27 area. Either way you can clearly see the power of the ABC.

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