Since we have broken down to 50.23 from the bearish triangle, and a nice 5 wave impulse up to 56.4 hitting 76.4 of A, we are seeing C coming. But more importantly, we are seeing all the C's line up.
IF AB=CD then we have
External AB=BC at 61.8% AND..
Another larger external AB=BC at 61.8%.
If we go higher than 56.4 we lose all the C's from lining up!
Remember that when cycles within cycles are lining up in fib. retracement, they become more powerful predictors.
IF AB=CD then we have
External AB=BC at 61.8% AND..
Another larger external AB=BC at 61.8%.
If we go higher than 56.4 we lose all the C's from lining up!
Remember that when cycles within cycles are lining up in fib. retracement, they become more powerful predictors.
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Another side note, AB=CD shows the 61.8% of the beginning of the 5 wave impulse. Another possible qualifier for AB=CD. 48.5 looks like a nice target.
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