long position
tp=1.2320
Note
Impulse Wave ExtensionsRules & Guidelines:
Same As Motive waves mentioned above:
Extended Guidelines:
Waves 1, 3 OR 5 can be subdivided further to be Extended.
When Extended, the subdivisions are exaggerated, resulting into an elongated Impulse .
Usually only one of the three (1,3, OR 5) is only Extended.
In case of "Cycle" and "Supercycle", both Waves 3 & 5 are Extended.
Waves 3 or 5 are the most common extensions.
If Wave three is Extended, then Waves 1 & 5 are usually proportionally similar or till 161.8 % of wave 1.
If Wave 1 is Extended, then Wave 5 usually terminates around the Fibonacci 61.8% of Wave 1.
If Wave 5 is Extended, Then it usually terminates around the Fibonacci 161.8% of Wave 3.
Trade closed: target reached
tp=1.2320 is reached
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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.
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.