Elliot wave 5 CELRUSDT

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In either a bullish or bearish market, whether the Elliott Wave trend is up, down, or the cycle and degree of the wave is either bullish or bearish, wave five targets can be obtained these following three ways in any degree of trend.

This list is not definitive in any particular order of preference because the markets are dynamic and the other correlated markets will give a clue which target method applies best at any particular point in time. Feel free to refer to the graphic below illustrating the three different methods we use of obtaining the measured move fifth wave target.

One way to forecast a fifth wave target with Elliott Wave is from the .618% extension area of the first & third waves combined measured against the high in the fourth wave.

The second way is wave five may be equal in length to the wave one. Simply either count the points or pips in the first wave or draw a line from the wave cycle peak preceding the beginning of the wave one to the ending of the wave one, then highlight it & drag the top of the line to the end of the wave four corrective cycle peak & check the price where the end of the line projects to give the wave five target as being equal.

The third way to get a wave five target is what we expect at a minimum as we do not label truncated wave fives here as there is usually a better option in the Elliott Wave count. This is an inverted 1.236% -1.618% extension of the depth in the wave four measured up from the wave three lows to the peak of the wave four.

please see I am a newbie correct me if I am wrong

Kind regards & good luck trading.