- Price just broke-out the white trendline; confirming the end of a truncated zigzag pattern (ABC). According to Elliot Wave Theory, after a truncated zigzag pattern, price should AT LEAST reach 81% retracement of the whole pattern - around 0.65 as labeled on the chart. (I do expect price to go parabolic reaching new ATH, but as of now more confirmation point is needed.)
- Truncated zigzag is when wC ≤ 61.8% of wA.
- Truncated zigzag is when wC ≤ 61.8% of wA.
Comment:
*TYPO: 6.56 not 0.65