We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe
damn dude. just a little too early. seems like an even better short now
Rykin_Capital
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@billydior, meh it happens. Have a look at my other ideas.
jahiliyya1
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Legit question: If the impulse wave is up, is the correction wave also supposed to be up? I didn't think that's how Elliot Waves work. Trying to learn. Is the C supposed to be higher than the A in a correction wave?
Rykin_Capital
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@jahiliyya1, Correction waves are always corrective to impulse waves, i.e. they run in the opposite direction to impulses. Having said that, not all impulses are upward impulses. Re: A&C heights, it depends on the correction pattern. For example in a flat A=C, hence a "flat" , yet 15% are extended flats, where A<C. In a zigzag, A<C, yet 5% are truncated zigzags where A=C. In an Elliott triangle nearly always A>C, yet C in a triangle formation is the commonest (?second commonest) to be an extended wave. Elliott alone is not enough and must be combined with indicators and irregular number series to give strong results.