Hello everyone,
Today's analysis gives more detailed predictions on where the price might pullback based on Elliott theory along with Fibonacci retracement and two Oscillators.
The prediction considers the following:
a- Wave 2 possible pull back points (50%, 61.8%, or 78.6% of Fibonacci retracement)
b- Correction wave ABC (sub waves of wave 2) pull back points (assuming the ABC holds the pattern of "Regular Flats").
c- Fibonacci time ratios.
d- RSI + Stochastic
The possible pullback points are:
a- 1.161 (most likely)
b- 1.14
c- 1.1195
In case the correction wave ABC have different pattern other than "Regular Flats", then it would most likely have either patterns:
a- Descending Triangle (in case C leg pulls back at 100% of AB).
b- or Contracting Triangle (in case C leg pulls back at less than 100% of AB).
In both cases, price would then bounce back and forth between the two trend lines shown in the video forming additional D and E legs.
Please let me know what you think and I would highly appreciate your support.
Peace,
Husain
Today's analysis gives more detailed predictions on where the price might pullback based on Elliott theory along with Fibonacci retracement and two Oscillators.
The prediction considers the following:
a- Wave 2 possible pull back points (50%, 61.8%, or 78.6% of Fibonacci retracement)
b- Correction wave ABC (sub waves of wave 2) pull back points (assuming the ABC holds the pattern of "Regular Flats").
c- Fibonacci time ratios.
d- RSI + Stochastic
The possible pullback points are:
a- 1.161 (most likely)
b- 1.14
c- 1.1195
In case the correction wave ABC have different pattern other than "Regular Flats", then it would most likely have either patterns:
a- Descending Triangle (in case C leg pulls back at 100% of AB).
b- or Contracting Triangle (in case C leg pulls back at less than 100% of AB).
In both cases, price would then bounce back and forth between the two trend lines shown in the video forming additional D and E legs.
Please let me know what you think and I would highly appreciate your support.
Peace,
Husain