Unfortunatally, EW studied on 2000 to 2021 for Elliottician!The price is progressing into Wave 3 upside.
If you are a newbie for technical analysis, this research is not a post for you. especially for those who want to trade, I will create a complete report with trading level by using a lower Timeframe shortly.
Weekly/2000-8 - EW cycle completed.
W4 divides the entire price range about 50%
Let's focus 3 waves:
2000-8 - 3 wave(4W = .5 of W3) & W5 higher degree.
W2 = 0.786 of 1W
W4 = 0.5 of 3W
W5 = Extended 2.618 (1)-->(3) & higher degree
ABC correct is NOT overlapped W3
Weekly-2009/13 - EW cycle completed.
2009-13 - (all waves are about equally)
W2 = 0.382 of 1W
W4 = 0.382 of 3W
We are not going to work on this 3rd wave of 2009-13 data
Weekly-2009/13 - EW cycle completed.
Fib. divider for W4 at.618 Golden section and 3rd wave are extended.
Let's focus on Wave 3:
W i = ladder style 5 waves
W iii = extended
W v = .618 of i --> iii
W ii = 0.382 of i W
W iv = 0.226 of iii W
