Kirk's Market Thoughts Message Board

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Non-Tech : Kirk's Market Thoughts

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Nov 12 3:59 PM EST

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Kirk ©

To: Kirk © who wrote (16449)	8/4/2023 10:53:07 AM
From: #Breeze	1 Recommendation Read Replies (1) of 26474

GE Wave Count Update. After I confirmed that Wave (ii) was complete I projected the price target for Wave (iii). Folks wondered how I projected that number. On this chart I overlaid a Fibonacci price extension ruler. Wave (iii)'s typically advance to the 1.618 level. Note that declining trend line. Prices need to break thru that line to hit my target. tradingview.com There are Fibonacci relationships among waves within the same degree. In this case Waves (i), (ii), (iii) and Waves (iv) and (v) to follow. If this wave count is correct then once Wave (iii) is complete, Wave (iv) should retrace 38.2% of Wave (iii)'s gain and then Wave (v) should carry prices much higher. I typically model a five wave move (using those Fibonacci relationships) as a road map. I hide that map on this chart. Breeze

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