medium · Elliott Wave Theory fibonacci
A stock rallies from $10 to $20, then pulls back to $15. It then rallies to $50.
If the analyst is using the Box Method to project the final target, what is the next step after drawing a box from $15 to $50?
- Multiply the $35 height by 0.618.
- Measure the retracement from $50 back to $10.
- Stack an identical box on top of the 50 level.
- Draw a parallel channel through the peak of Wave 1.
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