NOTES ON CHART
Comment:
Comment:
Comment:
It seems that wave {iv} has been formed. We will see....
Comment:
1. E.W. PRINCIPAL- in most cases, fourth waves ends at the end of previous fourth subcycle wave ( red arrow). This means 1.34451.
2. ABCD target (pink color) is 1.39918
3. Fibo retracement 38.20% of wave (3) is 1.34452
4. If thirt wave expanding, fifth and first wave are almost equal or fifth wave is 0.618 of third wave, wich is 1.34903
5. In E.W. theory, down level channel will connect {ii} and {iv} waves and the upper level in the top of {iii}. This way, will determine wave {v} (green arrow).
Sometimes we have fifth wave truncated. In this case we can say that wave (4) has been formed and we must be very carefully with long positions from now on.