We should be in the last leg of wave C of Wave 4.
71.24 can be the first target because that is where Wave A = Wave C (1:1).
It can exceed 71.24 but don't have high hope it will cross 74.95 because that is the end of Wave 1 of the BIG wave C.
Base on Elliott's rule, Wave 4 shouldn't overlap Wave 1.
Even there is exception for futures, the overlap shouldn't be too much. Furthermore, the probability for it to overlap on the WEEKLY tf is very minimal.
Pay attention on Daily, 4H and 1H for the impulse wave count to get a more precise target.
71.24 can be the first target because that is where Wave A = Wave C (1:1).
It can exceed 71.24 but don't have high hope it will cross 74.95 because that is the end of Wave 1 of the BIG wave C.
Base on Elliott's rule, Wave 4 shouldn't overlap Wave 1.
Even there is exception for futures, the overlap shouldn't be too much. Furthermore, the probability for it to overlap on the WEEKLY tf is very minimal.
Pay attention on Daily, 4H and 1H for the impulse wave count to get a more precise target.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.