This is based on the book by Laurentiu - Price action breakdown
Fair Value area - is the rectangle box -where price has spent most of the time trading at, an area where supply met demand.
The price area confined between those two horizontal lines in the chart above is the fair value area
Excess Price -
You can see that price has gone three times above the...
This is the big picture
wave iii has concluded , since wave ii was shallow wave iv may go deep
50 % retracement stands @ 75 , Hence buy when Federal bank reaches 75 levels (stop loss should be 50)
Target for wave v should be much higher (above 130)
but this trade may take some more time to materialise