WAVE COUNT What you are seeing is the wave (C). Within the wave (C), this chart is showing the wave 3 which was 5-waves down. After which, prices clearly have been in a consolidation just bouncing back and forth within in a range. What we are interested in is where are prices in that consolidation now? What I'm showing is that wave (A) and (B) are both done and that prices are now in the wave (C) up. Of course, all part of the wave 4 correction.
Nice chart. I just have one comment. Wave 4 should not go pass low of wave 1 (1.204) so B point line should be the main resistance. Otherwise wave count is invalid.