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    Folling on from my previous post talking about Fib 61.8% retracement, here again is a schematic on EWT guidelines and what wave 4 down can do, namely 38.2%, 50% or 61.8%
    https://hotcopper.com.au/data/attachments/4420/4420937-396d72fdb11e39dd30ee18dbe2a3e112.jpg

 
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