Its a close 50/50 call on which direction this could play out as the two elliot wave counts are both accurate and possible. Whats important is recognizing when a specific scenario becomes invalidated. The green box confirms our correction and we either see 8700 or 8300. 8300 is a 1:1 extesion. 8700 is a .618 extension of wave A and creates a double bottom.
Staying wthin our channel and above the green box validates our bullish nature and confirms an attempt to our projected 10800 dollar mark.
Even if we correct I am still bullish till we see an attempt at 11600 high. I'll be looking to short around there.
Staying wthin our channel and above the green box validates our bullish nature and confirms an attempt to our projected 10800 dollar mark.
Even if we correct I am still bullish till we see an attempt at 11600 high. I'll be looking to short around there.