Ha! We should call charts that look like this a "ground ball to first". My charts are showing the same thing. on current trend Ive got 305-315 in about 3 days (16th or 17th) could be sooner if we can muster up enough strength to break resistance....if only! :/
@Madhavrox, Of course, I have mapped the top and bottom averages, creating some basic convergence lines, and some historical support and resistances.
For example, I don't want to see it go lower than the bottom average line, and I want the previous retracement to be mimicked on the uptrend going forwards. The cone mapping the possible uptrend is simply used as a placeholder for me to plot my projected new Elliot sequence.
I hope that helps.
Remember this is just a guess based on some basic calcs, convergence and historical averages. nothing here is set in stone.