Wave 4 of Wave 5 Completed

I believed Wave 5 of 5 had started. The first target should be 38.2% (yellow fibo level on the right). Need to check for confluence with the white fibo levels on the left and count your wave at smaller tf to estimate the peak of wave 5.

Comentário:

Although price did achieved the confluence area of fibo levels in the white box:

the wave count needs to be revised. Wave 5 of 5 had not yet started. Instead, we are having a double tree combo for Wave 4. The bearish divergence signal from the MACD gave a hint that price is not ready to go up yet.

Comentário:

The purple fibo price level on the right side should be one of the target for Y.