Possiblity here that wave 2 hasn't finished and that we're more likely to come down to test the 0.97 region (steel support) to complete the "x" wave. A bounce should be expected in this region, taking us to the highs of 1.1$ once again. This also gives us an alternation between "W" & "Y", which they'll both be equal in size. Invalidation here would be a pop above wave 1 (very unlikely, but we must keep an open mind while trading).