Wave B never goes beyond the start of wave A, Wave B usually retraces 38%-50% of wave A
Wave C is an impulse wave or ending diagonal. Wave C often equals Wave A.
fib 0.381 and 0.5 are important zones.
Komen
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possible retest and double bottom. if not we go straight to 8k
Komen
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Wave Degree Rule 1: Wave 2 cannot retrace more than 100% of Wave 1. Rule 2: Wave 3 can never be the shortest of the three impulse waves. Rule 3: Wave 4 can never overlap Wave 1.
if one of these rules break elliot wave is off the table.
Relation Between Fibonacci and Elliott Wave Theory • Wave 2 is typically 50%, 61.8%, 76.4%, or 85.4% of wave 1 • Wave 3 is typically 161.8%, 200%, 261.8%, or 323.6% of wave 1 • Wave 4 is typically 14.6%, 23.6%, or 38.2% of wave 3 • Wave 5 is typically 61.8%, 100%, or 123.6% of wave 1 • There are three different ways to measure wave 5. First, wave 5 is 61.8%, 100%, or 123.6% of wave 1. Second, wave 5 can be measured as 23.6%, 50%, or 61.8% external retracement of wave 4. Third, wave 5 is 61.8% of wave 1-3