As shown on chart here is a breakdown of shorter term wave cycle with clear subwaves evident which gives an indication of the larger degree position. A move towards $20200 is very likely and is an area of great confluence; current price action lies within the subminuette wave 3, therefore price should continue down in a 5 wave count before some retracement/correction.
Please like and follow for more Advanced Elliot Wave Application!
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.