Wave 2 is complete. If the $9071 price level holds, lets' look for a price movement toward at least the length of wave 1 near the $11,800 price level. We should see this is 5 waves. If this count is correct, this would be a 6:1 risk/reward relationship. The $11,800 price or 1.382 fib lines-up with previous resistance from (July 12, 2019)
Time frame: I don't know. I was surprised at the long time it took wave 2 to complete. It's either going to be quick and impulsive move; few days, or possibly an ascending triangle taking a week or more.
Time frame: I don't know. I was surprised at the long time it took wave 2 to complete. It's either going to be quick and impulsive move; few days, or possibly an ascending triangle taking a week or more.
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