Going to exit part of the trade which entered at the shown arrow, by completion of the . Will enter long again after a 0.382-0.618 dip from 0.7405
The pattern has some interesting structure.
i) XA leg a complete 5-wave corrective wave
ii) B point is about of XA Leg
iii ) BC leg is an exact 1.414 extension of AB
iv) CD is completing through a 5-wave impulsive (to be confirmed) wave
v) 0.7405 is a test of 133 EMA on Daily time frame
vi) is at a significant high level on H4.
vii ) There is a divergence between and Composite Index (which demonstrates the areas fails to diverge)