Consider this more just a journal of possibilities that I would like to come back to in the years and see how it performed.
The idea is quite simple. Simply take the 236 from ATH to local Low as your guidance for confirmation of trend change and entry.
The thing is, you don't enter on the 236.
Mark the High of the candle that breaks and closes above the 236.
Ignore the fakeout and let the price come back to you or close on a retest.
I'm looking at 8373 +-500 either way.
I do have a theory where it goes to 4800 ahahahaha but I'll save that for another day.
Targets are the 1.618 and 4.236 of current move.
Both of these targets were hit in previous rallies (1618/4236) with much much more to give. the 4236 on the previous move was 4456 - we went to almost 20K
That being said, I don't concern myself with the price equivalent as much as the TA to get there. Extension targets are a great tool during price discovery and that is how I derived at these targets. Local PA will help make things clear at the time.