This is all the current history on the 5 min available.
On the 1st image the Support plots don’t reach as far. What do you see here?

- Market is engaged with the upside
- Market is in pursuit of a break on the upside (Navy line, later)
- Price went parabolic (beyond magenta) – in need of a correction
- Correction ends just shy of S2
- Market does not engage with the downside
- E-135 does not serve as a resistance on the way up
The next leg up.

- The Market re-visits the previous parabolic tail and makes a beat over it (less than 10 pips this time)
- The Market is still engaged with the upside, but there are caution flags: the second run up should had reached the break out level (in Navy, later)
- On the way down S3 gets overshot – it is a beat still, but upside potential is limited
- Price finds resistance at E-135 => the Market has turned direction
The market starts stair stepping down until things get over-heated to the downside

- The First parabolic move (circle #1) gets a quick reaction – like going into water that is too cold
- The Second parabolic move gets a bigger reaction
- There is a quick beat of this para move that brings about a relief rally
- The Market currently is in engaged with the downside, and it is in a pursuit of a break out
- R1 resists on the upside (very limited upside motion / volatility)
- The Pursuit of the break out fizzles out without reaching the Green break out level and R1 gets violated on the upside instead
- The Market has turned back up

- The Market goes ballistic on the upside
- The Parabolic tail goes beyond the magenta – in Pursuit of a break out
- The gray neckline, where price went parabolic (arrow), does not get violated – this is still the same wave up – likely a Wave 3
- The Break out is finally happening – the Navy line
- There are 3 attempts, but the break out only registers about 11 pips, so it is unsuccessful (<16 pips) => back to the last continuation level of 1.0938 (CNT on the screen)

- Here you see the next parabolic move that is in instant pursuit of ta break out.
- 3 Attempts in quick succession, but the break out isn’t happening.
- With one more parabolic (echo) wave up the support levels (and the break out level) gets re-adjusted
- S3 is the next buy after the capital failure
- E-135 on the way up yields to the move

- The next leg up starts after a quick spooling around the E-135
- It overheats a couple of times, and keels back to the continuation level – just shy of S1 – this is likely still the same wave – most likely a Wave 5
- They buy the 3 pullbacks just beyond the E-16 – this is definitely a Wave 5
- Price is in Pursuit of a break out
Which brings us to last Friday

- The break-out finally happened (>16 pips)
- A large correction to S3 is logical & was almost reached
- The market engaged with the downside
- It is in Pursuit of break on the downside
- Price only made it back to the E-135 where it failed (shy of R1)
- It is still the same wave down, most likely a Wave 1 which in theory should come in contact with Mr. Maroon before it ends
- Mr. Maroon currently is from 1.1056, but it is coming closer of course
- A Mean Reversion would take price back to 1.0960

…
Extension fill – added for a more complete picture

…
R1 and S1 now held out
