Earlier idea paid well as the completion of wave C of (4) was predicted accurately. (see related) This setup is more safe as we already have wave 1 of (5) in place and current drop offers opportunity to enter long with known stop area (below 1.2155). Entry on dip to the area highlighted with a blue rectangle 1.2217-1.2261. Stop below 1.2155. Target 1.2556 (former top) - 1.2761 (61.8% of waves (1)-(3)). Orange rectangle. Enjoy!
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Wave 2 appeared to be more complex than expected. It finally reached the initially preset buying area (blue rectangle) between 61.8 and 78.6 Fibonacci retracement level. The wave C of 2 is equal to the wave A of 2 at the 1.2240 level, which is in the blue rectangle area. At that level the buying could start to emerge.