I discovered that each time %50 retracement happened. This is an extended impulse wave 5 and instead of 161.80 increase it went up to 261.80% compared to wave 3 length. Or 361.80% compared to wave 4 length.
In my opinion 5th wave can not extend more than this. (if it does, it would target 14.70, fundementally it looks not possible now but long term it is possible)This is why it stopped exactly at that fib level. Yes, TRY devalued so much but it still did this with EW rules.
I expect correction to at least 11, then 10. From 10 I would expect reversal upside long term.
I live in Istanbul so I feel destroyed and no hope left. Economy destroyed by one man. I am very frustrated
In my opinion 5th wave can not extend more than this. (if it does, it would target 14.70, fundementally it looks not possible now but long term it is possible)This is why it stopped exactly at that fib level. Yes, TRY devalued so much but it still did this with EW rules.
I expect correction to at least 11, then 10. From 10 I would expect reversal upside long term.
I live in Istanbul so I feel destroyed and no hope left. Economy destroyed by one man. I am very frustrated