Short
Fibonacci Magic Pt 2 - POE
In my last chart I left you with 2 targets for the completion of Wave 5. We hit my first target on the head and seem to be correcting now. We are now in our ABC correction and on target to hit the 0.382 Fibonacci Retracement.
My reasoning is as follows. Wave Wave B retraced to the Golden Pocket of Wave A already, and the 1-1 extension of wave A is exactly at the 0.382 fibb. therefore I think there is a high probability of us retracing to there.
I left my second target on just incase we are in an extended Wave 5 and my Wave A is really Subwave 2. However I feel that is unlikely
Once again the Fibbs tell the story with this one, perfect retracement and extension ratios!
Target for the bottom of Wave C is about 520 satoshis
I hope that you enjoyed my analysis. Please always remember that targets are not set in stone and to always practice proper risk management! Please like and comment any questions you may have below. Happy trading!!
My reasoning is as follows. Wave Wave B retraced to the Golden Pocket of Wave A already, and the 1-1 extension of wave A is exactly at the 0.382 fibb. therefore I think there is a high probability of us retracing to there.
I left my second target on just incase we are in an extended Wave 5 and my Wave A is really Subwave 2. However I feel that is unlikely
Once again the Fibbs tell the story with this one, perfect retracement and extension ratios!
Target for the bottom of Wave C is about 520 satoshis
I hope that you enjoyed my analysis. Please always remember that targets are not set in stone and to always practice proper risk management! Please like and comment any questions you may have below. Happy trading!!
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