We now have more price action and It looks like we will be range bound for a bit as the bears and bulls try to get the upper hand. I show both bull and bear scenarios in detail and how the elliot waves may look as we start to move. Make no mistake the 5th wave Extension is never good to see if you are a long term bull on an asset. Its not so bad here because its an hourly chart but if you see it on a weekly chart.its going to be a long wait for a long position. The highest probable target from my experience of a retracement on a chart with a 5th wave extension is the 89% fibonacci level. Enjoy the video and i hope this analysis can bring some clarity to what is going on here.
thanks for your time guys and gals
Rigo
thanks for your time guys and gals
Rigo