In the one hour chart I can see a very ugly looking elliot wave count of 1,2,3,4,5.
wave 2 is a very shallow retracement of only 38.2% hence wave 4 is a lot deeper.
I think we just completed wxy retracement. Now we're either heading up for wave 3.
Or maybe the whole thing is just an ABC correction, and we're heading towards C.
FMG is commencing a X wave which should take more than a year to complete, so it won't happen over night. All of this will be done in 3 main waves structure blue, red, green. First structure is initial path upwards, then the second structure is the pullback and the third structure is the final upleg to around $5.30.