A corrective structure.

The A5-B3-C5 patterns consist of zigzags.

Didn’t I just say that this move-up could be Wave 1 (from the orange-shaded root)?

First of all, we have not had a Wave 4 yet. Apparently, every C wave is made up of 5 waves.

A 5 wave up move not a correction. An ABC with a 5-3-5 structure qualifies.

This was a mean reversion to the S-20. The stochastic embedding is now lost. The daily RSI2 has reached a level that registers as excessive, and so this could be all that she wrote for a counter move before Wave 5 down.

In the first image, you can see the 80-pip checkpoint, at 1.0791. Breaking that would clarify the intention of making that missing lower low. A typical beat would be 16 pips beyond the previous low, so around 1.0745.

If things really get rolling, the 1.0708 target would be the second important beat a Wave 5 could be making.