Chart says it all.
Note
Yellow fib is a copy of white fib that only displays relevant levels to show wave 3 ended, i.e., price has reached 1.618 extension of wave 1 (~2001 timeframe). Purple fib measures from wave 3’s beginning to end to forecast wave 4’s correction.
Peak in 2008 is wave B of 2001’s correction. Wave B corrected more than 100% wave A.
I think wave 4 will happen much quicker and sharper than wave 2.
I think wave 5 will be sharp and happen quickly.
Note
Potentially ending bull run on a completed wave (an impulse wave 5, impulse sub-wave 5, or as part of a corrective wave B). Has an extended sub-wave 1, corroborated by sub-waves 3 + 5 = .618 length sub-wave 1.Note
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Related publications
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.