An alternate to his idea > 
And part of this idea >
This is now my primary count as it's the most obvious wave scenario and looks like 3 of C was completed at Fridays high.
If the base channel (blue) holds at the .382 level next week then we may see a 5th wave to to $70 area to complete a larger wave 1, followed by wave 2 to the 0.5 level before wave 3 to $76+
If the base channel doesn't hold then I think it's likely that an ABC completed at Fridays high and that would likely take price below $60.
You can see in subwaves of wave 3 another channel with wave 4 correcting to the channel bottom and 0.382 of wave 3 >
The larger wave 3 (of C) hit the base channel top and we might see it correct to .382 of wave 3 before up to the .618 extension >
If it is a larger wave 1 we're in then $78 looks possible >
And part of this idea >
This is now my primary count as it's the most obvious wave scenario and looks like 3 of C was completed at Fridays high.
If the base channel (blue) holds at the .382 level next week then we may see a 5th wave to to $70 area to complete a larger wave 1, followed by wave 2 to the 0.5 level before wave 3 to $76+
If the base channel doesn't hold then I think it's likely that an ABC completed at Fridays high and that would likely take price below $60.
You can see in subwaves of wave 3 another channel with wave 4 correcting to the channel bottom and 0.382 of wave 3 >
The larger wave 3 (of C) hit the base channel top and we might see it correct to .382 of wave 3 before up to the .618 extension >
If it is a larger wave 1 we're in then $78 looks possible >
Note
Target reached; wave 4 didn't drop as deep (only .236) but 5th wave is nearing and end in my opinion
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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.