Here's my guess:
We are most likely in the 3rd impulsive wave of a larger degree. this has a few reasons:
1. This last motive wave has been much steeper than the previous one, indicating this could be a wave 3 of the larger degree cycle.
2. The volume on this 3rd wave doubled compared to the preceding wave 1.
! This could also mean that we are in a wave C, but that is not yet relevant because we are trading the 5th of wave of the inner degree (both scenario's expect a 5th wave of the lesser degree).
Within this larger degree wave, we are most likely in the wave 4. this is because:
1. The preceding wave had the most volume of this run.
1. We are forming a triangle, which is typical for W4.
This means that I expect a final 5th wave push when this triangle beaks. Once we confirm a break of this triangle-setup (everyone has their own rules regarding confirmation), we can go long with a target of around 10k~, and a small probability of an extension to 11.7k.
Caution: This 5th wave will be an exhausted wave which will rapidly accelerate in the opposite direction since it marks the end of the large cycle wave 3 and introduces the start of the larger cycle wave 4 correction.
Invalidation:
Breaking the 7462 support (triangle breaks down): could signal a complex correction with the 5th wave following after that, or it could also signal that W4 of larger degree already started.
We are most likely in the 3rd impulsive wave of a larger degree. this has a few reasons:
1. This last motive wave has been much steeper than the previous one, indicating this could be a wave 3 of the larger degree cycle.
2. The volume on this 3rd wave doubled compared to the preceding wave 1.
! This could also mean that we are in a wave C, but that is not yet relevant because we are trading the 5th of wave of the inner degree (both scenario's expect a 5th wave of the lesser degree).
Within this larger degree wave, we are most likely in the wave 4. this is because:
1. The preceding wave had the most volume of this run.
1. We are forming a triangle, which is typical for W4.
This means that I expect a final 5th wave push when this triangle beaks. Once we confirm a break of this triangle-setup (everyone has their own rules regarding confirmation), we can go long with a target of around 10k~, and a small probability of an extension to 11.7k.
Caution: This 5th wave will be an exhausted wave which will rapidly accelerate in the opposite direction since it marks the end of the large cycle wave 3 and introduces the start of the larger cycle wave 4 correction.
Invalidation:
Breaking the 7462 support (triangle breaks down): could signal a complex correction with the 5th wave following after that, or it could also signal that W4 of larger degree already started.