for different waves in a price movement, if extensions and retracements are drawn, prices that they are around many of these fib levels have significance. Also, a proposed top for a 5-wave move generally has its fib ratios matching previous significant levels.
for the top of the current wave, I see two potential targets where previous fib levels are pointing at. 11700 and 14000. if this wave tops at 14000 the resulting wave satisfies many of the previous significant levels. what do you think of this approach?!!!
Comment:
right now price is in the second target territory and if the resistance holds shorting might be on the table.
