Classical example of Elliott wave.
Wave 2 retraced to 61.8% forming Flat correction.
Wave 3 extended to 161.8% forming a normal or trending impulse.
Then wave 4 retraced to 23.6% in Zig-zag form. (This fulfilled the Rule of Alternation)
Wave 5 retraced exactly to its minimum target of 127% retracement. Where cluster of 200% extension was also there. Wave 5 formed in typical Ending diagonal format.
Here bigger wave 1 completed.
Now fall will come in NUVAMA forming bigger wave 2.
Wave 2 retraced to 61.8% forming Flat correction.
Wave 3 extended to 161.8% forming a normal or trending impulse.
Then wave 4 retraced to 23.6% in Zig-zag form. (This fulfilled the Rule of Alternation)
Wave 5 retraced exactly to its minimum target of 127% retracement. Where cluster of 200% extension was also there. Wave 5 formed in typical Ending diagonal format.
Here bigger wave 1 completed.
Now fall will come in NUVAMA forming bigger wave 2.
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