I think its a possibility which is likely because the wave 2 only retraced a little , co probably the current 0.236 is not enough. But as with everything, this might be done with the correction phase end up going to complete the fifth wave already, hence the tight stop loss
So I think we have now completed the waves 1 2 3 4, and should now expect the fifth wave before a correction. I have adjusted the beginning point of pitchfork to the current position based on adjusting to see which levels create a pitchfork that market has respected so far. this is a new approach which might be just what i'm missing. while in my view it should be...
While not very sure about the Elliot structure of the correction wave, I think the pitchfork stands and is respected so far. would be buying closer to the boundary, aiming for the middle line with a tight stop loss
I think aiming for c is a possible scenario which is worth pursuing
Elliot wave completion of C
Fib retracement of 618, given that market has respected 0.5 so far
however, this would mean that the market has not respected the pitchfork boundaries during the C move, which makes me wonder if we have actually completed the retracement and now trying to...
I think theres a chance that the fifth wave is over given the we are at the bottom of the pitchfork and there is divergence in 15 min time frame , so i think of aiming the fifth wave, at the top of the pitchfork