EWT and Fibs

Here's another MRA4: dl.dropbox.com/u/20815047/USDGBPdaily26_10_12.gif

Hi MRA4. Here's a recent (sort of) obvious example:

dl.dropbox.com/u/20815047/GKPweekly25_10_12.gif

161.8% extension of 4.5p to 202.75p projected from 87p gave 410 ish. Funny thing is, though, the retrace from there means that it can't have been a wave 3 of same degree as the 2 primary waves which generated it since it's retraced into wave 1 territory (unless it's a very strange leading expanding diagonal triangle!). We weren't to know that at the time though!

I haven't forgotten I'm due a follow up to my earlier post - got to earna few £s too!

I would really be interested to see an example of the fib Expansion used in real life, eg. on the dow or on a share,eg. the inverse 1.618 (common Fib expansion target for a wave 3),just so Myself & everyone can see & understand how this is works out, where do you take the fib from eg. is it taken from wave1 that gives you the 1.61 expansion for the end of a wave 3?

Cheers Jackozy,

That is the clearest i have ever seen it explained.

RMc