The 3-wave projection is 1.618% of 1 to 2 pulses.
Waiting for FOMC news with buying positions, seeing this momentum, tomorrow's news could make a bear trap, hitting stop losse to find new purchase orders.
We'll see what happens,
Incredible risk ratio is providing right now if the market confirm the end of wave 4.
We can draw a channel and enter when it get broken, but enter now give us a better risk ratio.
EURUSD is doing the opposite movement, even better because it's under more, thats mean the EUR is weak.
The last word has the market
Seeing today's momentum, and the 0.618 break of the momentum that took a few years ago I do not think it will go down in the medium term, or maybe we are seeing that the major currencies are weakening, boosting the price of the largest economy in the world.
This is only futurology.
All I know is that the 98 broke.
Could be starting a 4 wave.
Can see the a clear 3 wave with a divergence on max. Likewise we have a triple top, with a false breackout.
To define the stop loss i use a fibonacci retracement how seems respected.
Let's see where the market takes us