Wave 3 is coming. I'm learning to use the elliot waves but yea 3rd wave.
* Wave 2: Common retracement levels
* 61.8%-78.6% of wave 1 (golden zone, most common)
* May also be 23.6%, 38.2%, or 50%
* Wave 3: Common extension levels
* 161.8% extension of wave 1 (most common)
* May also be 127.2%, 200%, 261.8%, 361.8%
* Wave 4: Common retracement levels
* 38.2%-50% of wave 3
* May also be 14.6%, 23.6% (sometimes 61.8%, but it must not retrace below the wave 1 top)
* Wave 5: Common extension levels
* 50%-61.8% extension of waves 1-3
* 161% of wave 4
* Equal length of wave 1
(COPY AND PASTED TO CLEAR UP THINGS)
* Wave 2: Common retracement levels
* 61.8%-78.6% of wave 1 (golden zone, most common)
* May also be 23.6%, 38.2%, or 50%
* Wave 3: Common extension levels
* 161.8% extension of wave 1 (most common)
* May also be 127.2%, 200%, 261.8%, 361.8%
* Wave 4: Common retracement levels
* 38.2%-50% of wave 3
* May also be 14.6%, 23.6% (sometimes 61.8%, but it must not retrace below the wave 1 top)
* Wave 5: Common extension levels
* 50%-61.8% extension of waves 1-3
* 161% of wave 4
* Equal length of wave 1
(COPY AND PASTED TO CLEAR UP THINGS)
Note
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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.