Here's a snapshot of a closer look at how Intermediate wave A could manifest. In this time frame we should see a major trend reversal. nonetheless to keep things in higher perspective, however significant the actualised movement we may see, it will be counter reacted in equal or greater strength as we are generally in a corrective phase that should not end any time soon.
Motive structure @ minor degree blue:
Current location of price looks to be a promising high (though not yet a confirmed orthodox termination) since: 1) wave 3 = 2 x wave 1 and 2) negative is well adhered to and respected.
Corrective Structure @ minor degree blue:
Likewise, a beautiful wave relation exists where; wave 2 = 0.618 x wave 1. Wave 4 that is presumed to be in its early stages of development should retrace at least .236% or 0.382% of preceding impulse wave. Commencing scenarios are illustrated in the charts as a deep retracement will likely ensue a truncated 5th wave, and a shallow retracement should see the construction of higher highs possibly well above the channel.
Motive structure @ minute degree pink:
Minor wave 1 blue appears to express itself as a leading expanding diagonal which is typical. The subdivisions fit quite nicely with the orthodox structural count of 5 x 3.
Minor wave 3 blue also consists of an ending expanding diagonal, but in the extended minute wave 5 green which is a typical position for an . The subdivision also fit nicely.
Minute wave 3 = 1.618 x wave 1
Minute wave 5 = 2.618 x wave 1