If this is an ABC correction by the book, the bottom should be about 9K (A retracement = C retracement). This is about where I have a buy order
Comment:
Comment:
Reviewing this website here... no expert on fibonacci yet but...
Guidelines
• A corrective 3 waves move labelled as ABC
• Subdivision of wave A and B is in 3 waves
• Subdivision of wave C is in 5 waves impulse / diagonal
• Subdivision of wave A and B can be in any corrective 3 waves structure including zigzag, flat, double three, triple three
• Wave B of the 3-3-5 pattern terminates beyond the starting level of wave A
• Wave C ends substantially beyond the endng level of wave A
• Wave C needs to have momentum divergence
Fibonacci Ratio Relationship
• Wave B = 123.6% of wave A
• Wave C = 123.6% – 161.8% of wave AB
Guidelines
• A corrective 3 waves move labelled as ABC
• Subdivision of wave A and B is in 3 waves
• Subdivision of wave C is in 5 waves impulse / diagonal
• Subdivision of wave A and B can be in any corrective 3 waves structure including zigzag, flat, double three, triple three
• Wave B of the 3-3-5 pattern terminates beyond the starting level of wave A
• Wave C ends substantially beyond the endng level of wave A
• Wave C needs to have momentum divergence
Fibonacci Ratio Relationship
• Wave B = 123.6% of wave A
• Wave C = 123.6% – 161.8% of wave AB
Comment:
I suppose we could go down here if I am reading this correctly
Comment:
Wait no sorry folks it looks like this is it
Guidelines
• A corrective 3 waves move labelled as ABC
• Subdivision of wave A and B is in 3 waves
• Subdivision of wave C is in 5 waves impulse / diagonal
• Subdivision of wave A and B can be in any corrective 3 waves structure including zigzag, flat, double three, triple three
• Wave B terminates near the start of wave A
• Wave C generally terminates slightly beyond the end of wave A
• Wave C needs to have momentum divergence
Fibonacci Ratio Relationship
• Wave B = 90% of wave A
• Wave C = 61.8%, 100%, or 123.6% of wave AB
Guidelines
• A corrective 3 waves move labelled as ABC
• Subdivision of wave A and B is in 3 waves
• Subdivision of wave C is in 5 waves impulse / diagonal
• Subdivision of wave A and B can be in any corrective 3 waves structure including zigzag, flat, double three, triple three
• Wave B terminates near the start of wave A
• Wave C generally terminates slightly beyond the end of wave A
• Wave C needs to have momentum divergence
Fibonacci Ratio Relationship
• Wave B = 90% of wave A
• Wave C = 61.8%, 100%, or 123.6% of wave AB
Comment:
Confusing myself here ! damn
Comment:
It looks like this may be 123.6% of wave AB - about 8800-9K should be the bottom
Comment:
But who knows I don't have much experience with elliot waves/fibonacci #nottradingadvice