Forget about the wave (C). I was right. My assumptions were confirmed (see posts from 12.17.15 and from 12.18.15). Now we are seeing the development of the wave (D). I've already made a detailed description of wave (D) constructions. We are at this point. Wave (D) is a zigzag
. Waves A and C of the zigzag
will obligatory be related by Fibonacci in their size. Obligatory, in one of waves A or C, correction 4 will go into the price range of wave 2. This will happen in the wave C. Now it is already obviously. A special feature of this wave is that the middle of the zigzag
is always a big tapering triangle. This triangle is always visible on the chart clearly. In general, in order to determine the completion of wave (D), I must clearly see the completed middle of the wave of a tapering triangle. From waves (A), (B), (C) and (D) of the expanding triangle included in the upward movement of the market, wave (D) always has the longest period of formation. In practice, I have never had to doubt in the implementation of this rule. For a more accurate estimation of wave D value, it is necessary to combine two Fibonacci grids on the chart. This is the ratio of waves A and C of zigzag
(D), and the ratio of waves (B) and (D) of expanding triangle (4).