The 12-hour chart indicates, how to count waves, where the wave iii from sub-wave 3 has ended, to get the confirmation the price needs to pass the $ 1047 range. In case this level is crossed, the pattern will be confirmed, and again we can expect the targets of $ 800- $ 900 for this currency. In the 240-minute chart, the Divergence is also quite evident.
My idea for the target of $ 1,900 has not changed, so if you look closely at wave count, the price is in wave 3 and, it is under completion. And this decline that is happening is in the wave iv. The main trend is upward. By the way, I personally hope that the decline does not happen and only the price goes up. Because another decrease is really boring.
airbornealcatraz
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@ProficientForex, Thanks for clarifying. You've earned a follower :)
My initial thoughts (guesses since I don't have as much knowledge/experience) are somewhat similar to yours. I am personally hoping that it does decline and look to buy in at an appropriate price.