We have completed Wave ( iii
) and now we are going up for correction. Given the fact that wave (ii) was 90% retracement and Wave (b) of Wave ( iii
) was 58.6% retracement, Wave (iv) should be very shallow. 23.8% retracement is very likely (but allow 33.3%). From 94.49 fibo level (also 94.53 Murrey Math level) short set up should be considered.