TRADING WITH TIME AND PRICEWe have a primary bear trend that ended the low at 0.501 in 681 weeks
Total points moved = ( 6.91 - 0.501) = 6.409 x 100 = 640.9 pts
Time = 681 weeks
Price = 640.9 pts
The trend from the 0.501 low is our focus where we see a projection of 252 weeks from 22/03/2020 forming a double bottom for a new bull cycle.
On the daily timeframe we have the primary low on 22/03/2020
The first high occurred at 609 days and the correction has since formed two lows at 1086 and 1587 days. From the 609 days point 1597 is a Phi expansion of time. The 1086 time will also form a Phi expansion at 1758 days which coincides with the projected 252 weeks from the primary low. This low will be the take off point for the next bull cycle.
Two conclusions from our projections are
1. Price will decline further to complete the low on the 1.06/0.969 level to complete the first lower degree wave 1
2. Price will advance higher from the low point in a wave 3 fashion advance, all long term entries should be adjusted for a buy and hold for at least 133 weeks from January 2025
Trade safe, good luck
