Quote from: SmoothCurves on June 29, 2015, 10:24:40 PM

Quote from: lyth0s on June 29, 2015, 10:19:45 PM

Quote from: SmoothCurves on June 29, 2015, 04:53:37 PM

Quote from: masterluc on June 29, 2015, 12:50:22 PM

On breakout of current log downtrend I will consider this count to be activated (historical III running). You all know what means elliott wave number 3...

That would put the top of Wave III at around $120k. I could live with that.

Can you please explain how you got that number? I'm new to elliot waves but if wave 3 is a 1.618 extension of wave 1 ($1100) wouldn't that put wave 3 at $1941? Or is the wave 3:1 ratio used by percentages or something else that I'm unaware of?

Correct.

(1163/2.22) = 523.8 * 1.618 = 847 * 156 = $132,229

I rounded down some numbers to get 120k.

Could you please explain why you divided the ATH by 2.22? And where did the 156 multiple come from?