First of all and you would know this, but others may not and lets assume for arguments sake that this sub wave 3 has reached its peak, i would draw a simple fib retracement from the start of wave 3 up ( green arrow ) right to the end point ( upper green arrow ) to get my fib levels for sub wave 4 down , now again for arguments sake, lets say sub wave 4 finishes @ the 38fib ( 309 ) level, then I would do the following,
Draw a trend based fib extension from the start of sub wave 3 up ( not shown here but refer to upper chart ) take it to the top ( upper green arrow ), then drop it down to where sub wave 4 down finishes, which then creates your next set of targets for wave 5 up , the perfect model EW chart indicates the rise could be100% from the height of wave 1 up or 161% from wave 4 down, so i have marked the respective targets with red arrows.
I trust that was what you were referring in your last post.
As you can imagine, this is the exciting phase for GXY, with very little resistance lines to contend with, which is why when sub wave 4 finishes, I will be putting a substantial holding in place for maximum returns assuming of course the macro forces continues its bull run for some time to come.
Of course, all this is pure guess work as we dont know definitively that sub wave 3 up is done yet and it must be remembered that the EW perfect model targets are just a guide and cant be assumed as fact until its achieved.
Now Darkstone, one good deed deserves another, when you get the chance, could you explain how you get your targets based off a long engulfing green pole, you have a formula which I dont get and maybe could be useful for other posters to understand too, I know you have covered it before, but if you could do it again, it would be most appreciated.
This is the best and most respectful thread I know along with the EVN crew, its a pleasure to post.
Knowledge is power !!
IMO
Not financial advice
Time for some Elon Musk
