Here I've used trend based fib extensions to try and find a pattern for the top of each cycle, as mentioned in the chart, when we have had an overshoot of the 0.50 or 50% extension and a good pullback the 5th wave has at least met the 75% extension and overshot it, when we had a weaker wave 3 with a smaller pullback we didnt reach the 75% extension.
This time we have flown past the 50% extension with wave 3 and had a decent pullback so i would expect us to at least hit the 75% extension with the probability of overshooting quite high, although not as much as in 2013 as wave 4's correction was not as severe.
My best guess and gut feeling is around $135k
This time we have flown past the 50% extension with wave 3 and had a decent pullback so i would expect us to at least hit the 75% extension with the probability of overshooting quite high, although not as much as in 2013 as wave 4's correction was not as severe.
My best guess and gut feeling is around $135k