I see a historic on the daily in which the following day will have a tightened range as is reduced. has taken a sharp decline as traders await the next direction. Naturally in the market today, we will see an expansion in price as spot purchasing drives up price. It is then towards the top of the range we must assess at which force the bears step up.
Therefore a relief move in a 5, 7 count, taking us up to potentially $11.9k, here I will flip short.
1) T1 & T2 provide targets of the 5th and 7th wave count (if we get an extension).
2) Range high un-tapped liquidtity: Set stink asks here incise of any deviation of the range in which you can pickup positions at a discount to true price.
2 waves accurately predicted so far. 👌