This case is meant to predict the reversal of a trend which started on 02.09.2016. Reasoning: - I have set two Fibonacci channels. One red and one purple. The settings are 1 and 0.5. I used the Length A as reference points( purple lines). I copied said length and pasted into the current trend( red lines). My expectation will be for price to reach near the top...
It looks like people have been misinformed. First of all, there is no blueprint. So, from a researchers perspective there is no phenomena that we can confirm as inter-subjective. So what does that mean? As of yet no one is right, and no one is wrong. Don't go and tell people what's right or wrong. If you did and you had the answer, you'd be robbing the market for...
The current leg stretched way more than the previous pullbacks. My next expectation will be for price to reach the red lines and create a pullback, ergo conforming the beginning of the longterm downtrend.