Timeframe: 4h
COCUDAKL is unfolding within a clear impulsive Elliott Wave structure, currently progressing in Wave (3) of the larger degree Wave 5. After a sharp rally from 2,861, price marked the top of Wave 3 at 3,229, followed by a corrective Wave 4 that found support near 3,090, holding above the previous Wave 1 peak. The internal structure of Wave 4 appears to be a completed (a)-(b)-(c) flat correction, and price is now pushing higher from the base of the channel, indicating the start of Wave 5 within Wave (3). The break above the mini descending trendline and price nearing 3,243 confirms strength.
If the current momentum sustains and price breaks above 3,243 convincingly, the next leg higher could aim for projected resistance levels at 3302 – 3368 – 3415+, which align with Fibonacci extensions and channel resistance. These levels mark the likely completion zone for Wave (3), after which a minor pullback in Wave (4) may follow.
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Seems like this just won’t stop at all – cocudakl is the king now🙌