I initially posted this fractal to members back in April 2012 and i was using a previous fractal from a high made in August 2012 at 145, and the expected drop was to be a strong break lower.
This was at the time i was reading all sorts of silly targets of 136 up wards to 150, i did wonder what planet these traders were living on, because at the time, i simply never saw any evidence for such a move.
It reminded me back in August 2011 and traders again were looking for 150+ even 160 i remember on one forum again, i sometimes wonder do people just have a brain freeze and forget about history?
Anyhow fast forward, we are 6 weeks on and over 750 pips lower from that initial posting.
It just shows you a little bit of effort can do wonders, using a prior fractal from Aug 2011 foretold of a high probability trade on the EURUSD, yet i never once saw this idea on the Internet.
Maybe i just look for the edge a little too much, edge or no edge, using history shows you that traders do the same thing over and over again, we just seem to forget it.
This is the core basis of Elliott Wave, using fractals and price action from the past to project the future going forward.