Here's how to calculate it:
We calculate the target of wave C (from peak B 106,800)
✅ Peak of wave A: 111,980
✅ End of wave A: 103,300
✅ Length of wave A: 8,680
✅ Peak of wave B: 106,800
1️⃣ Minimum retrace (61.8%)
= 106,800 - (0.618 × 8,680)
= 106,800 - 5,360
= 101,440 (already broken).
If the 102k is what I call a target that is less than 61.8% in a shorter version, so that’s like a confirmation whether it will continue to go down or not. And it has already broken down to the 61.8 minimum. Why I say the 102k area first is because the market briefly showed the potential for a short wave C with the previous wave A failing to break 103,069 (the third leg), at the fifth leg of wave A. So wave A doesn’t stop at 103069 but is calculated from approximately 103300.
There is still potential up to 100% of the length of wave A unless the short C is already completed at 61.8%. It can already be considered officially completed. But usually C goes up to 100% equivalent to wave A. If it extends, it can be longer up to 161.8% extension.
2️⃣ Normal retrace (100%)
= 106,800 - 8,680
= 98,120
3️⃣ Extension (161.8%)
= 106,800 - (1.618 × 8,680)
= 106,800 - 14,040
= 92,760
