hard · Elliott Wave Theory fibonacci
A Wave 4 correction is currently developing. The following levels are identified: Wave 3 retraced 38.2% at 4,061; Wave 2's 1.618 extension projected from the Wave 3 high is 4,096; the prior 'wave iv' of one lesser degree occupied 4,020 to 4,100.
What is the term for this cluster and how should an analyst use it?
- Fibonacci Confluence Zone; use it as a high-confidence target for Wave 4 termination.
- Orthodox Range; use it to measure the start of the next Cycle-degree advance.
- Alternation Zone; use it to predict the specific pattern type that Wave 5 will ultimately form.
- Geometric Equilibrium; use it to place protective stops for an already-open short position here.
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