abc corrective wave and gold 1st February 2021
Updated
abc corrective wave with c wave extension at multiple level
in above chart we have primary ABC wave with wave C subdivided into (A)(B)(C) again wave (C) further subdivided into abc. last wave c,(c) has made 100% projection. At the time of writing correction to entire abc wave structure has made 50% correction. the fibonnaci retracement of entire ABC wave pattern has wave B low at 78% retracement and (B) has it low at 50% retracement. Multiple hammer candle stick suggesting big intraday support at 1856. if ABC correction ends right here than wave C projection can go upto 100% at 1886
in above chart we have primary ABC wave with wave C subdivided into (A)(B)(C) again wave (C) further subdivided into abc. last wave c,(c) has made 100% projection. At the time of writing correction to entire abc wave structure has made 50% correction. the fibonnaci retracement of entire ABC wave pattern has wave B low at 78% retracement and (B) has it low at 50% retracement. Multiple hammer candle stick suggesting big intraday support at 1856. if ABC correction ends right here than wave C projection can go upto 100% at 1886
Note
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.