Alternative wave count:
This wave count suggest that we should see an new impulse that eventually will take out 126.
The other scenario is that we will see a new low for wave 5 shown on the original chart.
Short term however the 1 hour time frame will be leading for me:
The sideways move which is in progress looks very corrective and therefore suggest another leg higher.
I will be looking for a continuation. Once that is in place I will be looking for a potential short trade where divergence on lower time frames will give us the first clue.
Updates will follow
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