Watch out:
1. If this correction is Zig Zag then wave B retracement must be less than 61.8 % of wave A
2. If this correction is FLAT then wave B retracement must be greater than 61.8 % of wave A. As we know we have 3 variants of FLATS and each one construction is different. So I think 50 % - 61.8% retracement is risky zone.
Please note that - No pattern is 100 % accurate, No candlestick is 100% accurate, No Indicator is 100% accurate. Market is extremely dynamic. It moves in own spirit. No one can predict it, its just a wild guess everyone is making and all analysis are debatable! This idea is just for education purpose and representation of my own understanding. I love to see what other people think about this and create a healthy conversation. I strictly do not recommend anyone to take any action based on my analysis as I may be right or wrong so use your own knowledge, wisdom and analysis.
1. If this correction is Zig Zag then wave B retracement must be less than 61.8 % of wave A
2. If this correction is FLAT then wave B retracement must be greater than 61.8 % of wave A. As we know we have 3 variants of FLATS and each one construction is different. So I think 50 % - 61.8% retracement is risky zone.
Please note that - No pattern is 100 % accurate, No candlestick is 100% accurate, No Indicator is 100% accurate. Market is extremely dynamic. It moves in own spirit. No one can predict it, its just a wild guess everyone is making and all analysis are debatable! This idea is just for education purpose and representation of my own understanding. I love to see what other people think about this and create a healthy conversation. I strictly do not recommend anyone to take any action based on my analysis as I may be right or wrong so use your own knowledge, wisdom and analysis.