First I'd like to say that unlike some other analysts on here that like to gloat about how great and amazing they are, I'm not perfect and I do make mistakes. This is why ideas and constantly refined when better information comes in, or when I realize that I was wrong. Also if you see something you disagree with, please feel free to comment with constructive criticism that could help make my future analysis better.
This is the third followup to my previous idea. I modified the map by taking off the log scale which seemed to skew the proportions in undesirable ways. I also fixed the reverse Fibonacci fan (right hand corner) so it would make more esthetic sense. The waves can also now be measured more elegantly than before using the Golden ratio, as described on the graph and below.
Wave 1: AB
Wave 2: CD ≈ AB*0.618
Wave 3: EF ≈ CD*1.618
Wave 4: GH ≈ (AB1*0.382)+(CD*0.236)+(EF*0.146)
Wave 5: IJ ≈ AB*1
Wave 5 is still hypothetical, of course. If the projection is right, it should oscilate above and below the purple trend line at least up to 12700 (5) (length of AB/50% retracement), with a little setback around 11900 if you want to short. However, it could also reach 14775 (AB*1.618) or even 18000 (AB*2.618), if the bulls stay in the mood long enough.
Let's see how it goes :)
This is the third followup to my previous idea. I modified the map by taking off the log scale which seemed to skew the proportions in undesirable ways. I also fixed the reverse Fibonacci fan (right hand corner) so it would make more esthetic sense. The waves can also now be measured more elegantly than before using the Golden ratio, as described on the graph and below.
Wave 1: AB
Wave 2: CD ≈ AB*0.618
Wave 3: EF ≈ CD*1.618
Wave 4: GH ≈ (AB1*0.382)+(CD*0.236)+(EF*0.146)
Wave 5: IJ ≈ AB*1
Wave 5 is still hypothetical, of course. If the projection is right, it should oscilate above and below the purple trend line at least up to 12700 (5) (length of AB/50% retracement), with a little setback around 11900 if you want to short. However, it could also reach 14775 (AB*1.618) or even 18000 (AB*2.618), if the bulls stay in the mood long enough.
Let's see how it goes :)