We had a previous discussion where we went through the triangle formed from B to D
We saw that the trend BCD was an equilateral triangle with average sides 112.6 units
Point E had an offset from the terminus of the side CD, that is its origin was lower than the ending level of CD.
From that origin at E to the current top on 16th Feb.2021 we had a magnitude 46.14 units
Average of sides of 1st triangle:
= V(BC) + V(CD) + V(BD) / 3
= (115.91 + 110.32 + 111.77) / 3
= 112.6 units
Current side from E = 46.14 units
112.6 / 46.14 = 2.441 ratio
Inverse of 2.441 = (1 / 2.441)
= 0.41 (approx. = 0.414 ratio)
0.414 is the complement of a root 2 rectangle
2.441 is a compound rectangle, that is Unity + Unity + Inverse of root 5
So the current top came in as a root 5 sub structure, the following correction has just made a double bottom on the 0.707 sacred cut section of a range completing the March Cycle low.
Currently, if this 0.707 section holds then price will continue a steady rise into the top of the range in the 33423 level.
The 0.707 section also coincides with a golden ratio of a range between 26226.9 - 29650 levels.
Price can make a first touch at the top of this range at 29650 and decline briefly before continuing the advance
Stop loss must be tightly set below the current low.
Trade safe, good luck
We saw that the trend BCD was an equilateral triangle with average sides 112.6 units
Point E had an offset from the terminus of the side CD, that is its origin was lower than the ending level of CD.
From that origin at E to the current top on 16th Feb.2021 we had a magnitude 46.14 units
Average of sides of 1st triangle:
= V(BC) + V(CD) + V(BD) / 3
= (115.91 + 110.32 + 111.77) / 3
= 112.6 units
Current side from E = 46.14 units
112.6 / 46.14 = 2.441 ratio
Inverse of 2.441 = (1 / 2.441)
= 0.41 (approx. = 0.414 ratio)
0.414 is the complement of a root 2 rectangle
2.441 is a compound rectangle, that is Unity + Unity + Inverse of root 5
So the current top came in as a root 5 sub structure, the following correction has just made a double bottom on the 0.707 sacred cut section of a range completing the March Cycle low.
Currently, if this 0.707 section holds then price will continue a steady rise into the top of the range in the 33423 level.
The 0.707 section also coincides with a golden ratio of a range between 26226.9 - 29650 levels.
Price can make a first touch at the top of this range at 29650 and decline briefly before continuing the advance
Stop loss must be tightly set below the current low.
Trade safe, good luck