1-5 wave impulse could do min target of that yellow bar, if reverse hns plays out. 1-5 wave elliot wave could go higher though count the wave set. Just estimate targets not accurate of course.
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sorry not yellow bar, purple bar
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looks like the reverse hns failed. if thats the case looks like a B wave rally now going into C wave. Which typically in these cases go to around prior wave 4 levels. So around 7k area. Also meaning blue 5 wave would be at 13.7k.
Good area to buy the correction around 7k area. or 618fib from start of blue 1 wave.
Good area to buy the correction around 7k area. or 618fib from start of blue 1 wave.