- This pattern is called a truncated zigzag pattern, where wave (C) is less than or equal to 61.8% of wave (A) - measured using Fibonacci Expansion.
- According to Elliot Wave Theory, price should return to AT LEAST 81.8% of the whole ABC correction - around 47.
- SL: if price make a new low and break the green line. This will suggest that our analysis of a truncated zigzag is wrong.
- According to Elliot Wave Theory, price should return to AT LEAST 81.8% of the whole ABC correction - around 47.
- SL: if price make a new low and break the green line. This will suggest that our analysis of a truncated zigzag is wrong.
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81%**