we take Elliott’s 5-wave theory. Spice Fibonacci and add a falling wedge.
Elliot:
1) I believe that the first wave of Elliot started $ 63 (summer 2013), immediately after the end of the correction, spring growth (Cyprus). and ended at a price of $ 1163 (November 2013).
- I marked the beginning of the third wave (January of the 15th year) - uptrend from August 2015 - above, we denote the cover, the peak of the 1st ($ 1163) and the 3rd wave ($ 19,666) - that way we have an ascending corridor.
Hey, what about the fifth wave? Minute, let's talk about the current correction.
if we look at the 1st wave, we can see how we came up against the Fibonacci growth level of 3.618 ($ 4042), the next Fibonacci level of 2.618 ($ 2942). Thus, we can conclude that if we break through the channel of an upward three-year trend, and a falling wedge, then we will see, most likely, a price around $ 2942.
First of all, what I want to say is that I have finished spring and the end of 2019. For the reason that it is growing in summer, it is likely that it will likely, and most likely the peak will be in one of these periods. Also take into account that what I will go peak, dark above the channel, and therefore the price.
5) Wave number 5, I hope that we are now near the bottom, and soon we will see an upward impulse of the 5th sacred wave. I believe that our goals for it are: -31000 $ - 1,618 Fibonacci (3rd wave) -51000 $ - 2.618 Fibonacci -70000 $ - 3,618 Fibonacci -82000 $ - 4,236 Fibonacci -100000 $ is a round number.
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one more
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bottom? pray
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fractal?
Trade closed manually
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level 2942 was the key if you tell me that there was only 3122.28, I will remind you - that the level is not an exact number, but a range. The error of ~ 5% is not critical. We are seeing U-shaped turn. And we are starting a new bull cycle.