Update to previous idea >
I theorized that wave C of 4 would extend to $64-$65 levels but it did not make it that far and appears to have bounced from the channel bottom after completing a clear 5 wave structure down for the end of C wave and now a very bullish 5 wave structure up has started for what could be a wave 1 >
I theorized that wave C of 4 would extend to $64-$65 levels but it did not make it that far and appears to have bounced from the channel bottom after completing a clear 5 wave structure down for the end of C wave and now a very bullish 5 wave structure up has started for what could be a wave 1 >
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Alternate theory on the 5 waves, if done already
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Appears to be in C wave now
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Bounced at an important level, .382 of wave 3 >
Above 6915 may lead to new highs for wave 5
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Another possible scenario
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Possibly WXYXZ, very choppy invst.ly/86c34
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Got a nice bounce at the 1.618 extension and a few pips from the .618 correction area, see if continues up from here