These are based on Monthly charts. Elliot waves formation can be in hourly, daily, weekly and monthly or even in 5 minute charts and there could be formations sitting on different wave cycles within another. it depends on how you look at it - now, near term, long term etc. wave 3 usually will be 1.61 times the length of wave 1 from the end of wave 2. as per the monthly chart the start of wave1 is at 1.59 and end is 9.16 and wave 2 may have ended at 5.72. rest you can do the maths. can't confirm the formation yet but as long as wave 2 does not drop below 61.8%of wave 1, this is valid. please dyor.
These are based on Monthly charts. Elliot waves formation can be...
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