The idea is still strongly active. Weekly timeframe WAVE 2
With Wave 1 on the daily timeframe completed. A 5 wave internal structure is seen. A corrective Wave is (ABC) with a 0.5 retracement zone is completed.
The next probable wave is wave 3 the longest and sharpest trend. This trend has a higher probability of being extended to extension zone 2.168. The reason for this bias is on the daily wave 3 is occurring on wave 3 of the weekly timeframe