GBPCHF Projection or retracement target?

Discussion in 'Forex Trading' started by just21, Dec 29, 2008.

  1. just21

    just21

    Looking for a target in GBPCHF which is trading at an all time low, currently 1.5284.

    Projection July 07-mar08 decline projected from may 08 high gives 123.6% level at 1,4220.

    Retracement same move gives -78.6% at 1.5225 and -100% at 1.4075.

    Anybody got any targets for this pair?
     
  2. MarkB

    MarkB

    Extensions of prior low to high on a weekly chart - attached.
     
  3. just21

    just21

    What is the 127.2 retracement? I have heard of the 123.6%.

    I had two come in at 1.52. July 07-mar 08 -78.6% and april 08-nov 08 -61.8%. Low was 1.5116.
     
  4. just21

    just21

    1995 low to 2000 high 123.6% comes in at 1.5216.
     
  5. MarkB

    MarkB

    1.272 is the square root of 1.618, phi. I use it every day quite effectively on a variety of markets. How is 1.236 derived?
     
  6. just21

    just21

    2 * 61.8 =123.6
     
  7. MarkB

    MarkB

    Has it been working for you? I'd think that would only apply to very specific circumstances.

    Anyway, I know that's not what this thread is about - just offering my 2 cents on targets.
     
  8. just21

    just21

    I don't really trade technically, I sold the pound as I live in the UK and have to listen to Mcbust lieing on Al Beeb all the time. Got to buy it back somewhere as the news flow is universally negative. Market looking for parity on EURGBP but I was waiting for parity on USDAUD but it never came!