Next Wave Target of 550?
Looking at this trend I notice a few things
-Wave 1 was verified as wave 1 since the retrace of 2 was nearly almost all of wave 1
-In the first sub-wave of wave 3, wave 3 wave extended at a 1.6 fib. Elliot tells us that if the 3rd wave in the sub wave is extended, the 3 wave on the larger scale is likely proportionally extend
-Given both of these conditions, to me it would like like the peak of wave 3 will be at ~550, which is a 1.6 fib of wave 1
Either way, I am enjoying the Fibonacci properties of this trend!
-Wave 1 was verified as wave 1 since the retrace of 2 was nearly almost all of wave 1
-In the first sub-wave of wave 3, wave 3 wave extended at a 1.6 fib. Elliot tells us that if the 3rd wave in the sub wave is extended, the 3 wave on the larger scale is likely proportionally extend
-Given both of these conditions, to me it would like like the peak of wave 3 will be at ~550, which is a 1.6 fib of wave 1
Either way, I am enjoying the Fibonacci properties of this trend!
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