Hello everyone,
In this analysis we looked at the price and time structure that formed in price action from the October 2002 low to the recent high in November 2021. Price range from the low 795.25 to the high 16764.86 was 15969.61 points
16764.86 - 795.25 = 15969.61 units
Using a price scale of Price/10 : 15969.61/10 = 1596.961 units
Time range from low to high is 998 weeks
If we pick the exact cycle node on 20th September 2021 then we have exactly 987 weeks
1596.961 / 987 = 1.61799
987 and 1597 units are the 11th and 12th sequence numbers on the Fibonacci Series
The 9th and 10th are 377 and 610 units
So we can say the structure is a 1597 X 987 (1.618 X 1) Golden rectangle
if 795.25 is the base and price range is 1597 units then we can find the sub levels of 987 and 610 price ranges
with a scale of 10 the 987 range = 795.25 + (987 *10) = 10665.25 level
Also the 610 range = 795.25 + (610 * 10) = 6895.25
Other levels can be calculated on the chart as well
It is important to not that the 10665.25 level is the 0.382 correction level of the entire structure whilst the 6895.25 level is the 0.618 correction level.
Currently our first TP projection is the 0.382 level, check back for updates.
Good luck
In this analysis we looked at the price and time structure that formed in price action from the October 2002 low to the recent high in November 2021. Price range from the low 795.25 to the high 16764.86 was 15969.61 points
16764.86 - 795.25 = 15969.61 units
Using a price scale of Price/10 : 15969.61/10 = 1596.961 units
Time range from low to high is 998 weeks
If we pick the exact cycle node on 20th September 2021 then we have exactly 987 weeks
1596.961 / 987 = 1.61799
987 and 1597 units are the 11th and 12th sequence numbers on the Fibonacci Series
The 9th and 10th are 377 and 610 units
So we can say the structure is a 1597 X 987 (1.618 X 1) Golden rectangle
if 795.25 is the base and price range is 1597 units then we can find the sub levels of 987 and 610 price ranges
with a scale of 10 the 987 range = 795.25 + (987 *10) = 10665.25 level
Also the 610 range = 795.25 + (610 * 10) = 6895.25
Other levels can be calculated on the chart as well
It is important to not that the 10665.25 level is the 0.382 correction level of the entire structure whilst the 6895.25 level is the 0.618 correction level.
Currently our first TP projection is the 0.382 level, check back for updates.
Good luck