5 very clear waves down mean an ABC up and then another 5 waves down is extremely likely. This is a great opportunity as the risk is very low and the potential reward is high. The profit target is calculated by:
Measure the height of the 5 wave decline in $ (by using the fib-extension tool) this is called x. Estimate where wave C of the ABC will end and subtract x from that price. This is where the grey line is.
Measure the height of the 5 wave decline in $ (by using the fib-extension tool) this is called x. Estimate where wave C of the ABC will end and subtract x from that price. This is where the grey line is.