End of five wave coming up
Zaktualizowano
All ingredients of the Elliott wave are present here.
- Wave two falls within the boundaries of a retracement of 61,8% - 78,6% of wave one.
- Wave three may not be the shortest wave (check). Looking back to wave one, it is clear at that moment that it is actually wave three.
* The extended wave three itself is a five wave as well.
* An additional point that is clearly visible here is that the extension of this wave is the fibonacci ratio 1.272 of wave 1.
- Wave four falls within the boundaries of a retracement of 38,2% - 50% of wave three.
the end of the last wave needs to have divergence with wave 3 and needs to respect one of the following rules
- Wave five has approximately the same length as wave one.
- Wave 5 is an inverse 1.382% - 161.8% extension of wave four
- Wave five is 61.8% or wave one till three.
This analysis i made is to give insight into what can happen. There is no reason for me to take a position at this moment, because i first wants to see what will happen and if the rules will be respected.
- Wave two falls within the boundaries of a retracement of 61,8% - 78,6% of wave one.
- Wave three may not be the shortest wave (check). Looking back to wave one, it is clear at that moment that it is actually wave three.
* The extended wave three itself is a five wave as well.
* An additional point that is clearly visible here is that the extension of this wave is the fibonacci ratio 1.272 of wave 1.
- Wave four falls within the boundaries of a retracement of 38,2% - 50% of wave three.
the end of the last wave needs to have divergence with wave 3 and needs to respect one of the following rules
- Wave five has approximately the same length as wave one.
- Wave 5 is an inverse 1.382% - 161.8% extension of wave four
- Wave five is 61.8% or wave one till three.
This analysis i made is to give insight into what can happen. There is no reason for me to take a position at this moment, because i first wants to see what will happen and if the rules will be respected.
Komentarz
Intense resistance may be expected at 1.49678.
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