Elliot wave principle says you are able to find a rough target for the top of the five wave by creating a channel using the bottom of the 2 and 4 corrective waves. The top of the parallel channel is anchored to the top of the 3 wave. Most of the time the top of the 5 wave meets this line, but it can extend above it.
I feel like 300k is a little optimistic, my personal target is between 205k – 249k
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