This is an example of an Elliott price conformation pattern. Not always this detailed, but this is a good general check list. Not sure this particular set-up will develop but monitoring its progress
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a breakout may happen soon, don't' buy the breakout. be patient and let the pattern play out. It may take and just 1-2 hour or 3-days. either way price needs to find support above 4000 and be above Wave-B
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or it may , go up slightly and roll-over back down