Numbers on the right of the chart are my fib retracement numbers, numbers on the left are fib extension.
Wave 4 finished at .382 almost perfectly. I have set my take profit target between .618 and .786 for the 5th wave as we also have a small resistance point at that level.
Looking at 8450 as the first area of resistance. Assuming we can break through that, the next major target would be the .382 fib level, around 9540. Here, I would take some profit and reposition myself to continue the current upward trend towards the .5 level, around 11500.
Caution: Watch for Lower Lows and/or Lower Highs as these are bearish signs.