Looks like this pair is still stuck in the channel. I placed a and the standard fork (in dark mauve) is too steep. It's not describing the trend.
Placing a schiff fork at exactly the same captures the current wave, but is still pointing the other way downwards!! Additionally, the daily stochastics are now starting to trend down again.
So we may be in for another down wave. If stochastics cross, I will go short and hopefully pick up the long bull run I have been waiting for.
I'm picking a target and hopefully after this short downswing, the bulls will have arrived.
Interesting that it keeps pinballing between 88.6% fib extension of wave 5 and the top of wave 4 (100% retracement). Even in the last peak on the 19th went to 88.6% fib retracement.
This is more the intraday trader's paradise.