It appears that primay wave 4 of cycle V has ended with more than required retracement. Expect this to touch 4924 as first target towards its upward goal. If current wave remains primary 4, then rangebound movement also suggests this level as target. Alternatively, if Cycle target is supposedly met at 0.618 without completing pattern (4991), then also the current wave becomes wave B of correction, trying to retrace 50% of entire downward movement of current down swing leg, should achieve this level. This is my pure trading call, not a long term call.
Alternative possibility of this cycle V being a diagonal is also fulfilling, if not highly convincing, in that case also, the current minor upwave should become wave C of diagonal wave 3, giving little higher targets. This is kept on backburner until wave 4 retraces into territory of wave 1, being the main characteristics of diagonals.
Chart explains more.
Disclaimer : Same as written in previous other posts.
Alternative possibility of this cycle V being a diagonal is also fulfilling, if not highly convincing, in that case also, the current minor upwave should become wave C of diagonal wave 3, giving little higher targets. This is kept on backburner until wave 4 retraces into territory of wave 1, being the main characteristics of diagonals.
Chart explains more.
Disclaimer : Same as written in previous other posts.
Trade closed: target reached