Zoomed in and cleaner view from my first post. First big Elliot wave finished the pattern at our lowest point, and new Elliott wave started. Fib retracements show support and resistance lines that match up perfectly. I see many people not knowing how to draw Elliott waves, and mistaking minor distortions for waves, even the top analysts. Waves 2 and 4 should NEVER cross, so don't get fudded or FOMO'd by them. This is currently the most (by my knowledge) accurate analisys judging by all the indicators, but feel free to correct me, or let time tell. Happy trading everyone!
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As you guys see, the waves unfold just as i thought. Target still stays the same.
Why did you make the retracement from #0 to #5? You should've made it from #2 to #3, and then see where #4 should hit.
If wave 2 retraced a little, wave 4 should retrace more
After wave 5 is finished, we make ABC with the fib retracement drawn from #0 to #5
CryptoNapp
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@moshearg, Thanks for the comment. I did the retracement from the whole move (0 to 5) because its not to predict the end to #4, but the 5th wave. i already predicted where #4 will end. Since #2 and #4 cant intertwine, the top of #2 is possibly near the low of #4, which the big fib confirms, as well as the whole 0 to 5 mini elliott wave confirms. Hope i cleared out what i had in mind
If wave 2 retraced a little, wave 4 should retrace more
After wave 5 is finished, we make ABC with the fib retracement drawn from #0 to #5