Wave 5 Long-Term Target: Fibonacci Projection Indicates 28,867
Wave 5 Long-Term Target: Fibonacci Projection Indicates 28,867
Wave 1: 15,214 to 18,893
Wave 3: 16,833 to 26,290
Wave 4 Complete: 22,022 (Correction Phase Ended)
Calculation:
Wave 1-3 Range: 26,290 - 15,214 = 11,076
61.8% of Wave 1-3: 11,076 × 0.618 = 6,844.97
Wave 5 Target: 22,022 + 6,844.97 = 28,867
Conclusion:
Wave 4 has completed, confirming a long-term bullish outlook. If Wave 5 follows the 61.8% Fibonacci extension rule, its estimated target is 28,867. This projection helps us to set long-term price targets and confirmations. You can view my previous analysis of wave 4 published on 20 FEB.
Wave 1: 15,214 to 18,893
Wave 3: 16,833 to 26,290
Wave 4 Complete: 22,022 (Correction Phase Ended)
Calculation:
Wave 1-3 Range: 26,290 - 15,214 = 11,076
61.8% of Wave 1-3: 11,076 × 0.618 = 6,844.97
Wave 5 Target: 22,022 + 6,844.97 = 28,867
Conclusion:
Wave 4 has completed, confirming a long-term bullish outlook. If Wave 5 follows the 61.8% Fibonacci extension rule, its estimated target is 28,867. This projection helps us to set long-term price targets and confirmations. You can view my previous analysis of wave 4 published on 20 FEB.
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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.
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.