According to the theory of Fib Retracement ,
Wave 1's retracement is around 38.2%(from Aug 2018 to May 2019)
Wave 2's retracement is around 38.2%(from May 2019 to Nov 2019)
Therefore, Wave 3's retracement should be also finished on 38.2%, it is around 1598-1602
It also lays on two uptrend support predictions.
However, if the price go down and break 1600 level, then it is possible can draw a conclusion in Elliott Waves theory.
Wave 1's retracement is around 38.2%(from Aug 2018 to May 2019)
Wave 2's retracement is around 38.2%(from May 2019 to Nov 2019)
Therefore, Wave 3's retracement should be also finished on 38.2%, it is around 1598-1602
It also lays on two uptrend support predictions.
However, if the price go down and break 1600 level, then it is possible can draw a conclusion in Elliott Waves theory.
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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.