Hello everyone. For me, the most informative timeframe is the daily chart. I believe that the upward movement on this timeframe will be in 5 waves. Currently, it has 3 waves with a high at 1.3866 and a 4th wave down, with a low at 1.3508. I expected the 4th wave to be significantly shorter, but at the moment it is at 0.786 Fibonacci retracement of the length of the 3rd wave and slightly above 0.618 of the 3-wave upward movement in a zigzag pattern. Currently, there is a signal of the end of the downward movement on the 4th wave, indicating the start of the construction of the 5th wave, which will surpass the high of the 3rd wave. There are 2 possibilities: that the 4th wave down is the 1st wave of the downward movement, and at the high of the 3 waves, a full reversal occurred. Both scenarios are plausible, but I am more inclined towards the 1st scenario.
