DislikedHi Mercy,
that is true, but momentum is diminishing fast and we have divergenzes on all TF's up to 12h.
Microstructure lets room for a further poke higher, ideally 3916 to 3946. (highest probability)
But if it uses its channels to the full extent we even might see printings of around 4038
See 2h chartIgnored
Fib ratios:
wave 1 red is around 230 pips. wave 3 is around 593 pips. That is a little more than a 261,8% extension. If wave 5 = wave 1, then we can look at a target of around 3914