$500 spike in just one hour looked like a fakeout to me, especially because there had not been enough time for a proper correction. I believe it's likely that we are on sub-wave 4 of a corrective wave 4, so there can be further lows.
Comment:
As the target seemed just out of reach, I changed my stop to 75% of the original goal. It turned out to be a good idea. Now, I'm starting to think that maybe we can have a 5th impulse wave on the way.
