XMRUSD $210 After Correction? Elliot Wave Analysis
Explanation on the Fibonacci levels on the graph:
-Wave 2 retraced 38.2% of wave 1, meaning it is likely the fourth wave will retrace at least 38.2% of wave 3. I suspect it will be 50%, but if it does go to 61.8%, then lots of profit will be made.
-Wave 3 hit a perfect 1:1 Fibonacci extension of wave 1 to 2. This ideal extension is what gives me the price target of a 1.618 extension of wave 1 to 2 which provides a price target of $210.
Please do leave any feedback/questions in the comments below. I have been unable to reply to comments on my ideas because of recent moderator action so if I can't reply because of this feel free to PM me.
BTC tip jar: 1GE36bSw7uq8CbaPoYybtEArE58qHF1uRe
-Wave 2 retraced 38.2% of wave 1, meaning it is likely the fourth wave will retrace at least 38.2% of wave 3. I suspect it will be 50%, but if it does go to 61.8%, then lots of profit will be made.
-Wave 3 hit a perfect 1:1 Fibonacci extension of wave 1 to 2. This ideal extension is what gives me the price target of a 1.618 extension of wave 1 to 2 which provides a price target of $210.
Please do leave any feedback/questions in the comments below. I have been unable to reply to comments on my ideas because of recent moderator action so if I can't reply because of this feel free to PM me.
BTC tip jar: 1GE36bSw7uq8CbaPoYybtEArE58qHF1uRe
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