The correction beginning the August 7th 2020 high is nearly complete. I believe it was a running flat, and the final downwards impulse is in wave iv, awaiting a final wave (v).
The target for wave iv is approximately 1775 (61.8% of wave iii), where it should terminate and then the next target is 1617 for wave (v), which is 50% of the previous run.
Plenty of other Elliott Wave practitioners have the current downtrend labelled as a high degree wave 4, which means after the movements described we'll be in a high degree bullrun!
Price levels are always estimations but EW structures are inevitable.
NFA , DYOR
The correction beginning the August 7th 2020 high is nearly...
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