Look for this high-probability 1-4 Line validation as this Wave/Geo completes, combined with a Fibonacci contraction levels one might consider using as supportive target definition:
Predictive Analysis & Forecasting
Durango, Colorado - USA
Remember that IF we are dealing with a Geo, then there are certain internal geometric requirements that have to be met, one of which is a complex 3-4 Leg construction, such that two swings are TYPICALLY connected by an intermediate ZZ - See chart:
This would thus force the replacement of Point-5 into Point-3, and Point-5 would rest further up there, near the Bearish entrenchment that was pre-defined - This is one of the contingencies we have discussed in a recent chart ($SEK or $NOK, I believe).
At this M15 level, failure to rally above this bearish entrenchment (pink arrow-down) would maintain validation of original target - Lots of bull/bear fighting going on at these levels, so price consolidation and time-consumptive geometries are expected in this environment - The larger timeframe is what I rely upon to base the bull/bear bias, as the Predictive/Forecasting Model is calibrated for H4 level. This "Model" remains bearish for the time being: