So as we can tell that we are in the 5th wave as I also confirmed with the (MOM Divergences) and I am looking for an expected drop around (.236 to 0.382) but (0.382) more to my liking and yes you can say "Aren't (2nd waves) deep retracements?" Yes they can be but I am putting a conservative estimate on my goal post. I am also accounting in for Time frame based estimates with a (Trend based time frame tool). Again these are my opinions.
As always happy trading : )
As always happy trading : )
Comment:
Again this is not accounting for the truncation of wave structure from (wave 4- wave 1)