LT Elliot wave projections if closes above LTH(3924)
Updated
If LT is in impulsive Elliott wave 3 shown in gray which will get confirmed if it closes above LTH(3924), and then we can see targets as drawn. difficult to predict exact end point of wave 3 but it can be one of the fib level and for wave 5 the next upper fib level can be considered for now.
Closing above will also form inverted H&S (see shadows in triangle shape) which can open targets near to 4682 (see arrow in purple) and little higher also possible. The possible projections for wave 3 in gray is drawn in the form of wave in green and we might be in wave (ii) of that series.
If it fails to cross the LTH and turns back over the time then we might be still in the correction phase which must end below 04th June low (3176).
** This is not a trade advice, please do your own analysis before taking any trade and keep trailing stop loss.
Closing above will also form inverted H&S (see shadows in triangle shape) which can open targets near to 4682 (see arrow in purple) and little higher also possible. The possible projections for wave 3 in gray is drawn in the form of wave in green and we might be in wave (ii) of that series.
If it fails to cross the LTH and turns back over the time then we might be still in the correction phase which must end below 04th June low (3176).
** This is not a trade advice, please do your own analysis before taking any trade and keep trailing stop loss.
Note
Have come down as expected in the form of wave 2
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