In the chart, two Elliott waves are shown - one impulse followed by an ABC.
The C wave is right at the 1.618 Fib extension so this could be a price at which it finds support and starts to reverse up to begin a new impulse wave.
The C wave is right at the 1.618 Fib extension so this could be a price at which it finds support and starts to reverse up to begin a new impulse wave.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.