Due to some interest, here are some short term targets. Please note that as price continues the targets may be recalculated. If that happens I'll be sure to update them in either a comment here, or in the following video. A target for minor wave 3 is calculated at 3.77, using the 4.236 Fibonacci ratio of minor wave 1. Price may continue towards this point for the short term. If the target for minor wave 3 is reached, while the structure remains incomplete, then we will use a higher target calculated for minute wave v. That target is calculated at 5.37, using the 1.236 Fibonacci ratio of minute wave iii. If the higher target (calculated for minute wave v) is reached, then we will most likely expect intermediate wave (3) to eventually reach the higher target and Fibonacci duration, as shown on the daily chart. - Jack
Hi. That's a completely reasonable confusion haha. The Fibonacci duration's are projected estimates for where the waves may be complete. If Intermediate wave (3) is labelled complete in February, then the degree of labeling within it will be moved up one degree (seeing minor waves 3 and 4 complete where we currently have minute waves iii and iv). With our current targets we're expecting intermediate wave (3) will most likely end around the higher Fibonacci duration, around July.
Hi. For minor wave 3 I've just added a short term target calculated at 3.77. I've added more detail for that target (as well as a higher target, just in case) in the pinned comment. - Jack
Hi. We do not expect a low below 1.74 for the short term. If price does move below that point, then I'll do a very quick update with an altered wave count. Right now, we expect price to continue upwards. Short term targets (for minute wave v, and the end of minor wave 3) are added in the pinned comment. - Jack
Due to some interest, here are some short term targets. Please note that as price continues the targets may be recalculated. If that happens I'll be sure to update them in either a comment here, or in the following video.
A target for minor wave 3 is calculated at 3.77, using the 4.236 Fibonacci ratio of minor wave 1. Price may continue towards this point for the short term.
If the target for minor wave 3 is reached, while the structure remains incomplete, then we will use a higher target calculated for minute wave v. That target is calculated at 5.37, using the 1.236 Fibonacci ratio of minute wave iii.
If the higher target (calculated for minute wave v) is reached, then we will most likely expect intermediate wave (3) to eventually reach the higher target and Fibonacci duration, as shown on the daily chart.
- Jack
thank you for sharing your calculation method alongside the targets. it's both, educational and bullish
Very accurate and pro analysis: bravo
Hi Jack
Please forgive me but I’m trying to understand how minor 3 can finish in March but minor 5 hence end of intermediate 3 finishes in February ?
I had the same observation
Hi. That's a completely reasonable confusion haha. The Fibonacci duration's are projected estimates for where the waves may be complete.
If Intermediate wave (3) is labelled complete in February, then the degree of labeling within it will be moved up one degree (seeing minor waves 3 and 4 complete where we currently have minute waves iii and iv).
With our current targets we're expecting intermediate wave (3) will most likely end around the higher Fibonacci duration, around July.
@@PureElliottWave
Hi Jack Thankyou for the reply
So intermediate 3 which was forecast for February is now July ?
Thank you from Wellington NZ 👍🏻
Wow so this recent liquidation didn’t invalidate $6 by end of feb?
no it didnt ! 😀
What is target for xrp 3rd wave?
Hi. For minor wave 3 I've just added a short term target calculated at 3.77.
I've added more detail for that target (as well as a higher target, just in case) in the pinned comment.
- Jack
Thanks Jack. So do we expect a continued retrace lower than 1.74$ for next coming days before moving higher ?
Hi. We do not expect a low below 1.74 for the short term. If price does move below that point, then I'll do a very quick update with an altered wave count.
Right now, we expect price to continue upwards. Short term targets (for minute wave v, and the end of minor wave 3) are added in the pinned comment.
- Jack
@@PureElliottWave Thanaks Jack
The targets would be beneficial
Calculated and added in the pinned comment :)
- Jack
@PureElliottWave thanks Jack
Tx Jack!!
I''ll feel alleviated if you guys say we are in a bear market...
🌹🌹🌹🌹🌹
🌺🌼🌸