RE: BTC update 07.12.17

[change-4-a-buck]

i did one search and i found this
http://stockcharts.com/school/doku.php?id=chart_school:market_analysis:guidelines_for_applying_elliott_wave_theory

Comments

[ew-and-patterns]

In this pic wave 4 is between the 38% the 50% RT which is a frequently hit correction target. I don't get why they would illustrate a guideline of wave 4 span, when a wave 2 can retrace anything between 23 and 99.9% and the 50 and 62% RT are the MOST frequently hit targets.
But OK, I guess this is another way to combine fib ratios with support and resistance levels.

[change-4-a-buck]

Thanks for your input .