I'm not an expert; so it is no investment advice at whole?
Any comment or reccomendations?
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I assume that we are in the 5th wave in progress; the sub 3rd wave could lead us to 5.09 . The destination of the big C wave could be somewhare between 4.88-4.92 i guess.
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The subwave 3 is in prorgress; we may test the broken ascending channel at 5.35-5.38 area before continuing lower. As long as it does not break up the fallen wedge we can excpect lower price action.
3. alt dalga devam ediyor, asagiya kirilan yükselen kanali bir ihtimal test etmek isteyebilir maksimum 5.35-5.38'e. Buyuk dusen takozu yukari kirmadigi surece dusus beklerim.
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The continuation of the analysis link below; Analizin devami linkte <deleted>
Your elliot wave count doesn't seem obey Fibonacci relationship rules at all.
Guidelines
• Impulse wave subdivide into 5 waves.
• Wave 1, 3, and 5 subdivision are impulse. The subdivision in this case is ((i)), ((ii)), ((iii)), ((iv)), and ((v)) in minute degree.
• Wave 2 can’t retrace more than the beginning of wave 1
• Wave 3 can not be the shortest wave of the three impulse waves, namely wave 1, 3, and 5
• Wave 4 does not overlap with the price territory of wave 1
• Wave 5 needs to end with momentum divergence
Fibonacci Ratio Relationship
• Wave 2 is 50%, 61.8%, 76.4%, or 85.4% of wave 1
• Wave 3 is 161.8%, 200%, 261.8%, or 323.6% of wave 1-2
• Wave 4 is 14.6%, 23.6%, or 38.2% of wave 3 but no more than 50%
• There are three different ways to measure wave 5. First, wave 5 is inverse 123.6 – 161.8% retracement of wave 4. Second, wave 5 is equal to wave 1. Third, wave 5 is 61.8% of wave 1-3
taylox
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@burakpadir, Thanks for the information. I am gonna check...
mrsceleste
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Nice chart. This is what I see, an ascending price as you note, especially given sentiment in Turkey right now
taylox
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@mrsceleste, thanks ur setup looks legit, i am gonna consider this.
mrsceleste
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@taylox, thanks lets see. I'm a student of the market always.
Guidelines
• Impulse wave subdivide into 5 waves.
• Wave 1, 3, and 5 subdivision are impulse. The subdivision in this case is ((i)), ((ii)), ((iii)), ((iv)), and ((v)) in minute degree.
• Wave 2 can’t retrace more than the beginning of wave 1
• Wave 3 can not be the shortest wave of the three impulse waves, namely wave 1, 3, and 5
• Wave 4 does not overlap with the price territory of wave 1
• Wave 5 needs to end with momentum divergence
Fibonacci Ratio Relationship
• Wave 2 is 50%, 61.8%, 76.4%, or 85.4% of wave 1
• Wave 3 is 161.8%, 200%, 261.8%, or 323.6% of wave 1-2
• Wave 4 is 14.6%, 23.6%, or 38.2% of wave 3 but no more than 50%
• There are three different ways to measure wave 5. First, wave 5 is inverse 123.6 – 161.8% retracement of wave 4. Second, wave 5 is equal to wave 1. Third, wave 5 is 61.8% of wave 1-3