So, as i said last time that we were completing the 3 Subwave, and now we're onto our Wave 2.
We completed 5 Subwaves up making up the fractal for our first wave in the 5 wave sequence of wave 5.
Our wave 2 hit the 0.382 Fibonacci Retracement and we have continued onwards to new highs!
Now, if wave 3 hits the 1 : 1 extension it should top out around the upper $0.79 range, however there is no doubt that it could go higher.
For now, my target range for the top of the completed 5 wave structure has been widened due to the data of our new subwave structure. The 3.618 Fibonacci extension for wave 1 and 2 is around $0.816, however the 1.618 Fibonacci Extension for Subaves 1 and 2 is a little higher, right around $0.85. So either way, be on the lookout for the top. You have plenty of time to ride this puppy.
I hope that you enjoyed my analysis. Please always remember that targets are not set in stone and to always practice proper risk management! Please like and comment any questions you may have below. Happy trading!