…since we had 5 waves to the upside.

Ever since Druckenmiller werecked the Euro, there was only one failed attempt.

See any 5 Waves does not mean numbered ones.

These five should be labeled as a-b-c-d-e.

Why? Because the first wave failed to make a close beyond the 4H S30.

Not the case currently.

The momentum has turned 4 days ago.

See the rising stochastic & RSI 2.

The current pullback is a normal Wave 2 to MA ribbon support.

For the first time the ATR projection makes sense.

Wave 3 is expected to reach to (Northern compass)

It is the upper guard rail’s location.

image shows a move from the upper safety line to the lower (blue & yellow)

I’m thinking 1.0825 for the Wave 5 – also the start of the c of C leg down.