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.