Going for the 5th of the 3rd wave.
Fundamentally. Financially. Seems to be in a strong position as well.
If Wave 1 = Wave 5 = $10
Target = $94
If Wave 4 disects the whole impulse by 2/3 in this case
Then Wave 5 = $10.
[Wave 0 to 4 = $20 => Wave 5 = $10]
[Whole Impulse wave = $30]
Target = $94.00
On 2 Elliot count will give us a Target of $94.00
Currently Rio is Trading at $87.62
Say Enter at $88.00
Profit of $6.
On Daily Chart.
If count is right.
Then Wave 2 : Correction wave is in progress.
Has it completed ??
Wait and see.
If it retrace by 33%, 50% or 61% ??
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