You look like skin and drones. In situations like these I need to explain what to look for at the end of an impulse wave.

Understand me. When I say you are looking for weakness, I mean it. RSI2 divergence, Stoch 60 divergence (<2 to <10) …

stoch60[i]=iStochastic(symbol,0,60,3,3,MODE_SMA,0,MODE_SIGNAL,i);  

if (stoch60[i]>94 && stoch60[i+1]<94 && stoch60[i+2]<94 && stoch[i+3]<94 ){
    ObjectCreate("MINTARGETS"+i, OBJ_TEXT, indicator_window, Time[i], 85); 
          ObjectSetText("MINTARGETS"+i, ">94", 32, "Arial Black", Navy);
}

  
  if (stoch60[i]>98 && stoch60[i+1]<98 && stoch60[i+2]<98 && stoch[i+3]<98 ){
    ObjectCreate("MINTARGETS"+i, OBJ_TEXT, indicator_window, Time[i], 85); 
          ObjectSetText("MINTARGETS"+i, ">98", 32, "Arial Black", Navy);
}

  
  if (stoch60[i]<10 && stoch60[i+1]>10 && stoch60[i+2]>10 && stoch[i+3]>10 ){
    ObjectCreate("MINTARGETS"+i, OBJ_TEXT, indicator_window, Time[i], 25); 
          ObjectSetText("MINTARGETS"+i, "<10", 32, "Arial Black", Navy);
}

  if (stoch60[i]<2 && stoch60[i+1]>2 && stoch60[i+2]>2 && stoch[i+3]>2 ){
    ObjectCreate("MINTARGETS"+i, OBJ_TEXT, indicator_window, Time[i], 25); 
          ObjectSetText("MINTARGETS"+i, "<2", 32, "Arial Black", Navy);
}

…stochastic bar (my Hybrid make is still available in the downloads) missing a beat aka Faith Healer. Either/or OR All.

In comparison to the Utmost condition that terminates a corrective structure, a divergence is not a straight out rejection calling the direction wrong, it is a walk away for wearing off the degree of overbought / oversold condition. In fact, the divergence underlines that this remains the direction of progression.

If I had to make a guess about where the Wave 4 up would cap out, I would look at the R1 at 1.0785 and the MA ribbon displacement at 1.0795.

Wave 3 was a channeling move, which means that it was kept outside the pendulum (green shaded moat).

The Suppressor Line is the E-16 HL2 hourly that defines a channeling move. Relative to the E-44, 35 and 45 pips out. The momentum line shows the divergence as well (double).

Return from 50% to 40%. Me thinks a Wave 4 up before a Wave 5 making a lower low. Then perhaps an ABC up for a right shoulder.

Yet another method I use for a prospect Wave 4 terminal:

Short & sweet artikel.

Wave 5 could tag the weekly S3 at 1.0617.

If the move would get to 45 pips beyond the mentioned value, the boat would capsize completely. Whatever rally that right shoulder would make, it should not trigger a Push, so it would have to close below the 14-sample Window Envelope (in blue).

The holdings are in line with more downside to come.