On the above chart I investigated the relationship and continuation of 'waves' within the Fibonacci Circle. Due to its incredible success, I decided to look over it again.
On this chart I show very comparable formations (formation 1) (formation 2)
Formation 1 is contained within 0.786, while formation 2 extends through the 1 level
Applying the same Logic with the continuation through 2.618, the bars pattern placed is price inverted from previous move through 2.618
The Weak (form) Market Hypothesis suggests " that today’s stock prices reflect all the data of past prices and that no form of technical analysis can be effectively utilized to aid investors in making trading decisions."
I find this interestingly applicable to this scenario, with repeated formations, in repeating fib levels.