The chart seems to be keeping to the Elliot waves. Could be the...

The chart seems to be keeping to the Elliot waves. Could be the start of wave 3 if these levels hold. What do other people think?



Elliot wave theory:
1.Wave 2 never moves beyond the start of wave 1;
2.Wave 3 is never the shortest wave;
3.Wave 4 never enters the price territory of wave

Typically:
Wave 2 is typically 50%, 61.8%, 78.6%, or 88.2% of wave 1
Wave 3 is typically 161.8% of wave 1
Wave 4 is typically 14.6%, 23.6%, or
38.2% of wave 3
Wave 5 is typically:
-inverse 1.236 – 1.618% of wave 4,
-equal to wave 1 or
-61.8% of wave 1+3