Hello,
This is 2 hour frame chart , $8900 will be a good buy zone.
The Elliot wave says that if wave 2 does not retrace much then wave 4 will do retrace alot. And also wave 4 cannot enter wave 1 territory, otherwise that will simply imply wave impulse failure.
Since wave 4 has already retraced much more we see that it should finish off the wave 4 around $8900 and start wave 5 journey.
Hope it worksout.
New learner.
This is 2 hour frame chart , $8900 will be a good buy zone.
The Elliot wave says that if wave 2 does not retrace much then wave 4 will do retrace alot. And also wave 4 cannot enter wave 1 territory, otherwise that will simply imply wave impulse failure.
Since wave 4 has already retraced much more we see that it should finish off the wave 4 around $8900 and start wave 5 journey.
Hope it worksout.
New learner.