AR 4 Price Relationships between $2.8-2.64
Green: 100% extension of June selloff
Blue: 100% extension of first leg lower of August selloff
Yellow: 50% retracement of move higher from March low
Red: 85% retracement of move higher from June low
*My opinion is the weakest of these price relationships is the 85% retracement, although it is not a 'default' retracement, it is used in Elliot wave. It is interesting to note the 85% retracement landed within .02 of the 50% retracement
Blue: 100% extension of first leg lower of August selloff
Yellow: 50% retracement of move higher from March low
Red: 85% retracement of move higher from June low
*My opinion is the weakest of these price relationships is the 85% retracement, although it is not a 'default' retracement, it is used in Elliot wave. It is interesting to note the 85% retracement landed within .02 of the 50% retracement
Comment:
I'm betting it sees 4 before it sees a 2 again