I draw trendlines but I don't know what I'm doing. I'm trying to studying trendlines so I draw few and I'll keep an eye on what works out and what not, and later will try to find an explanation.
Trying to find a possible ending target for this downtrend: 1) Fibonacci Retracement from start of wave 1 to end of wave 5 2) Fibonacci Extension from start of wave A to end of wave A to end of wave B 3) Fibonacci Retracement from end of wave A end of wave B Could it be a possible target for this downtrend? If not how can I determine other possible targets?
Chart only for training, I have no clue of what I'm doing.
We're going in a channel, at the moment on wave 4 of Elliot wave count.