DislikedThank you. That is encouraging for me. I am just a beginner in EW and would really love to learn it as much as i can.
Yes. If we go by the 1:1 rule of the three waves it does come to about 1.347. However, the possibility of getting an overall flat or an extended flat formation in the WXY cannot be ruled out just yet. If that transpires, we may even see a lower low than 1.35. I am just trying to see the various alternatives for now.Ignored
You are on the right track. Rocroy, thanks for covering for me.
As you can see on the series of charts that have just been posted, which were initially drawn from last week, the potential for the double zigzag , the flat and the extended flat limits were set.
The double zigzag for the b wave from 1.4986 was supposed to end at 1.3770 which is the 1st blue horizontal line on the chart below. This is considering Price and Time.
But as it turned out, this was exceeded as price went lower. Here, the premse was c = a. since this has been exceeded we now move to c = 1.618 ( a ). Just as a guideline.
Moving up a scale or degree, we then see that this supposed wave 4 has finished wave A and is developing the supposed doublw zigzag wave B.
W now look at this as wave B retraceing wave A.
> 61.8% then this could be a FLAT
> 100% up to 132.8% then it is an extended flat.
the arrow below that 132.8% level indicates that the supposition that this was a potential extended flat wave 4 was wrong and that price will continue to go down.
EG