I am mid-long term bullish, I am not sure about the short-term. I do think we will break previous highs.
1) Scenario 1 - we see wave 3 of elliot here... 1.618 of wave 1 and will be around 600, that means we will go higher because wave 5. Remember there will be up, down, up, down, up all the way to this target
2) Scenario 1 - we end up getting there, but takes a little longer as institutions give us a bear trap, L1, H1, then a H2 (that is lower than h1) and a L2 that is If you are enjoying @zulu kilo's chart then this would align with his theory..... thus H1 is pretty clear, what is not clear is what our L1 is..... a bullish trrend means that we will see a 61.8% retracement of L1 to H1 so I've chosen three potential L1's and there retracements.... if we see this happening then we will also have a target for L2... which will be below that L1..... so can help identify a good entry point if you are also mid to long term bullish.....
1) Scenario 1 - we see wave 3 of elliot here... 1.618 of wave 1 and will be around 600, that means we will go higher because wave 5. Remember there will be up, down, up, down, up all the way to this target
2) Scenario 1 - we end up getting there, but takes a little longer as institutions give us a bear trap, L1, H1, then a H2 (that is lower than h1) and a L2 that is If you are enjoying @zulu kilo's chart then this would align with his theory..... thus H1 is pretty clear, what is not clear is what our L1 is..... a bullish trrend means that we will see a 61.8% retracement of L1 to H1 so I've chosen three potential L1's and there retracements.... if we see this happening then we will also have a target for L2... which will be below that L1..... so can help identify a good entry point if you are also mid to long term bullish.....
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Scenario 2***
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H2 that is lower than H1**** (We will think its a bearish trend)
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looks like we are going lower... we now know entry points to board plane to space
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$61-90 low coming..... then new highs. get rdy.