Fibonacci external retracements:

Fibonacci external retracements:
- The ratios that are typically used for external retracements are 127%, 162%, and
262%
- External retracements are helpful in recognizing the end section of a trend or
countertrend.
- External retracements are not used on their own for price targets, but only to
confirm a price expansion and/or an internal retracement.

End of wave C price target projections (in order of importance):
- Fibonacci retracements of preceding trend: 38.2%, 50.0%, 61.8% and 78.6%;
most likely zone is between 50.0% and 78.6%;
- Price expansion of Wave-A: 61.8%, 100% and 162%;
- External Retracements of wave B: 127%, 162% and 262%
** The odds of a wave C target projection increase if a cluster of projections is
formed. The odds increase even further if the cluster includes one projection from
each of the above sets.
End

End of wave 5 price target projections (in order of importance):
- 38.2%, 61.8% price expansions of waves 1 to 3 from the end of Wave 4.
- 100% price expansion of wave 1 from the end of wave 4.
- 127%, 162% external retracement of wave 4.
** Naturally the odds of the projection increase if we get one projection from each
of above 3 sets.