I would like point out few important things I found on the chart.
We witnessed 3 major waves (not Elliot's) during the past year. Every wave finished with nice spike yellow circles.
Every wave correction finished before or very close to Fibonacci level 14.6%.
Every time it get close to this level double or even tripe bottom was formed which I marked with blue scarabs
There is saying three times charm, but be aware that 5 is a magical number as well.
...to me 3000 is a very solid support...
…If my idea is correct we can expect target around 30k as I mentioned in my previous one. Link below
There is probably a lot more on this chart like for example look how the retracements are double in value in every wave so far. First U have 8200 then double close to the 16000 another one 32000.
...Yes these values are stretched a little bit to match the double ratio like in most cases in technical analysis. I'm trying to point out that this pair actually is moving in harmonic fashion and spikes and bottoms are not random like in the other pairs
We witnessed 3 major waves (not Elliot's) during the past year. Every wave finished with nice spike yellow circles.
Every wave correction finished before or very close to Fibonacci level 14.6%.
Every time it get close to this level double or even tripe bottom was formed which I marked with blue scarabs
There is saying three times charm, but be aware that 5 is a magical number as well.
...to me 3000 is a very solid support...
…If my idea is correct we can expect target around 30k as I mentioned in my previous one. Link below
There is probably a lot more on this chart like for example look how the retracements are double in value in every wave so far. First U have 8200 then double close to the 16000 another one 32000.
...Yes these values are stretched a little bit to match the double ratio like in most cases in technical analysis. I'm trying to point out that this pair actually is moving in harmonic fashion and spikes and bottoms are not random like in the other pairs
