From 10650 it's a WXY, 5-3-5 (X) 5-3-5. It's on the second set of 5 in the Y. Then maybe XZ. Your fib levels look good your target of 4900 should be pretty spot on. If you look at Elliot rule of alternation you'll see it states if an A wave is simple a C wave will normally be complex typically a WXY or WXYXZ.
OrionInTheSky
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@Mycomorel35, thank you for the comment and further explanation of the possible wave count. I was actually having some trouble recognizing the patterns, your insight helped me to clear some of that confusion out.
Mycomorel35
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@OrionInTheSky, here is my main count for reference. Thing about Elliot wave I keep 4 different counts on charts to see which one plays out but this is what I've been trading off of. I've noticed a lot of people using the low at 9230 as an anchor to create a falling wedge but I don't believe it will play out that way. I believe the trend line of the Y wave is going to be more applicable. But I would expect a bounce off the trendline most people are using just for that fact. We'll see it's starting to look like we may see a break up from the area we are in and set a C wave of the B in the Y. Hoping not since I'm short from 7451. Prosperous trading to you.