In the image, a clear 5 Wave move can be seen, obeying both the Elliott Wave Principle and Fibonacci Sequence. Elliott Wave represents the Psychological aspect of the market as it is itself A Law of Nature while Fibonacci Sequence is the Mathematical Aspect. Since the Market deals in numbers, we need a little Math. Makes sense right?
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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.