(MONTHLY chart) Explanation from Mathematical pov. EYES is so far following EXACTLY Elliott wave theory based on Fibonacci Retracements and extensions. My way of Logical investing and making money based on statistics all fibs mentioned below in the chart. The higher Waves are not timeline related, just indicative based on the Fibs:
- HTF Wave I - II = Fib retracement of max 0.786 (0.53) low was 0.69 so near.
- Draw a Fib I - A grab it and move 0 to B then:
C = II (end correction) In other words Fib 0-1: AB = BC also AC = Fib "Golden ratio" 1.618.
- Then next move up peak can be calculated as well and is aways near 0.618-0.786, because:
Draw fib on overall chart bottom II to top I then Wave 1 peak = near fib 0.618. And it did hit 20 slightly below Fib 0.618.
-Then next retracement (correction) from 1-2 is always near Fib 0.786 and so:
Wave 1-2 = Near the (white) fib retracement 0.786 with a few wicks below.
- Expectation: wave 3 overtime ends usually near Fib 1.618 and Wave 4 correction ends usually slightly above 1 (retr. 0.286-0.386)
- HTF Wave I - II = Fib retracement of max 0.786 (0.53) low was 0.69 so near.
- Draw a Fib I - A grab it and move 0 to B then:
C = II (end correction) In other words Fib 0-1: AB = BC also AC = Fib "Golden ratio" 1.618.
- Then next move up peak can be calculated as well and is aways near 0.618-0.786, because:
Draw fib on overall chart bottom II to top I then Wave 1 peak = near fib 0.618. And it did hit 20 slightly below Fib 0.618.
-Then next retracement (correction) from 1-2 is always near Fib 0.786 and so:
Wave 1-2 = Near the (white) fib retracement 0.786 with a few wicks below.
- Expectation: wave 3 overtime ends usually near Fib 1.618 and Wave 4 correction ends usually slightly above 1 (retr. 0.286-0.386)