@hasannazir, who knows? :P The price level projection is based on an assumption that the we are at impulse 5 of the wave structure.
HNTrader
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@Adongdong, you are also showing the 0.65 fib level at 4570. Could wave 5 extend to that?
Adongdong
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@hasannazir, with panic sell overshooting may happen as we have witnessed in wave 1 :p otherwise this Elliott structure wouldn't make sense because wave 3 cannot be the shortest of all three.
Adongdong
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@hasannazir, I set 0.65 fib level to avoid being distracted from "noise" on the chart. This ratio may not be valid for all of the cases. So be aware.
HNTrader
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@Adongdong, Thank you for sharing your chart and giving great answers to my questions..