Outlined is if the bullish wave was a 5 point wave, and if it is then it itself is the first leg of a larger 5 point wave. Watching closely, this could indicate several things for the future depending on where the correction (ii) lands
I target wave 2 at the 61.8% of wave 1.
Reasoning: The wave ii within wave 1 retraced to 61.8% of wave i
I target wave 2 at the 61.8% of wave 1.
Reasoning: The wave ii within wave 1 retraced to 61.8% of wave i
Note
Just hit the .618 target, now to see if it bounces to 3!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.