Today's analysis gives more detailed predictions on where the price might pullback based on Elliott theory along with Fibonacci retracement and two Oscillators.
The prediction considers the following: a- Wave 2 possible pull back points (50%, 61.8%, or 78.6% of Fibonacci retracement) b- Correction wave ABC (sub waves of wave 2) pull back points (assuming the ABC holds the pattern of "Regular Flats"). c- Fibonacci time ratios. d- RSI + Stochastic
The possible pullback points are: a- 1.161 (most likely) b- 1.14 c- 1.1195
In case the correction wave ABC have different pattern other than "Regular Flats", then it would most likely have either patterns: a- Descending Triangle (in case C leg pulls back at 100% of AB). b- or Contracting Triangle (in case C leg pulls back at less than 100% of AB). In both cases, price would then bounce back and forth between the two trend lines shown in the video forming additional D and E legs.
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