We appear to be done with the major wave 3 (blue) counting the 5 sub-waves (green). This also happens to be 2.618 Fib ext of Wave 1. We now appear to be almost done with the 4th wave correction which is a likely a Flat ABC
Since wave 2 was a deep correction (0.786 Fib of Wave1) Wave 4 is likely a shallow correction (0.382 Fib of Wave3) This also coincides with possible support from 50 DMA
Note that technically Wave 4 can go as deep as Wave1 top, so take care.
Confirmation for this setup is above Wave 3 top.
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and we are within $2 of our first target. Hope this chart helped
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First Target reached
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We got support on the long-term support (green arrow) again which can be considered as the 4th wave, we now appear to be in the final wave and set to hit our T2 target which is also close to the channel top
If this is indeed the final 5th wave, be careful trading it and make sure to take profits. All the best