SUMMARY
The below wedge chart is looking more and more primary on the shorter degree of trend. I've labeled abcd as being complete and e is likley next to perhaps $8,989 or so. Bear in mind, that not every triangle needs to display abcde; four are also not that uncommon. In other words, price can breakout at d and not complete the e wave.
The wedge fits well into a 0.618 Fib correction following a five wave impulse up (white).
IF the wedge pattern completes and confirms, I've added the likely impulse waves and instead of using a cooky cutter Fib chart, I use native Fib zones; a secret sauce of mine. This pathway provides how the needed higher high can be attained. IF $12,527 is hit, the Inverted Head & Shoulders could also be considered confirmed! Let's see how the overnight price action plays out.
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Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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Tutorial on the use of Fibonacci & Elliott Waves
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Essay: Is Technical Analysis a Quantum Event?
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