Wave 2's will "typically" retrace back to the previous degree wave 4. From experience, I've seen them dip well below wave 4, well above wave 4 and sometimes in the middle of wave 4. So, sorry to be vague, but the best I can tell you is a range. The previous wave 4's low is .051.
Thanks for the follow up. Question for you. As an experienced trader, in this type of scenario, do you typically hold your position through entire correction or sell midway though (like now if correction moves further down) and try to buy back in at the neckline low point?
In general I’ve been holding as I don’t have the pinpointing skills you have and believe in bigger run up to come. But also think it prudent to not hold during corrections since they could go very low. What’s your most successful approach?
Thanks again for looking at BTS. It seems to have some good fundamentals behind it too which makes it worth studying.