Fifth Waves (Wave 5)
- Fifth waves tend to be less dynamic and display slower speed of price change than the previous waves. It will usually be accompanied by lesser and breadth.
- Of course, if the fifth wave is the extended wave, this will not be the case in terms of price change. In advancing fifth waves, optimism is extremely high despite a narrowing of breadth. However, the fifth wave of an extended fifth will lack the change of the previous waves and give clues about a change in direction.
Im watching for price to head back to 360 range. Need to watch from there to see if FOMO or news drives it further or it starts a consolidation.
After 360 next target is 550-615 range