How to use fibonacci retracement and extension
this entire trend was started at 1857 and ends at 1900 with wxy zigzag corrective wave.
wave x is subdivide into abc flat correction which retraced upto 0.382 of wave X at 1870
wave y made 1.382 projection of wave w at 1900.
the entire wxy trend made 50% retracement at 1878.
(retracement after wave y overlap wave x high which made clear that these are corrective wave not the impulsive wave )
how to trade ?
buy at 0.383 retracement of wave X and exit at 1.382 projection
sell at 1.382 projection at 1900 and exit at 0.50 retracement
this entire trend was started at 1857 and ends at 1900 with wxy zigzag corrective wave.
wave x is subdivide into abc flat correction which retraced upto 0.382 of wave X at 1870
wave y made 1.382 projection of wave w at 1900.
the entire wxy trend made 50% retracement at 1878.
(retracement after wave y overlap wave x high which made clear that these are corrective wave not the impulsive wave )
how to trade ?
buy at 0.383 retracement of wave X and exit at 1.382 projection
sell at 1.382 projection at 1900 and exit at 0.50 retracement
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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.
Related publications
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.