I think this rally has for destiny the year open @ 120.15.
Why? because they have to leave a blue or neutral candle printed this year in order for the next one be red and go further down.
I think the intention is leave one candle with a little space above the open. Checking the Monthly and Weekly graphs one good place will be at 120.23. That point will be this year high.
Then 2 weeks left to end of year, I think one good setup will be this week touch 118.93 (Monthly intersection with this next week- not showing in tradingview because bad data) and already make the 4th wave of this last one in order to leave a red weekly candle, then last week of the year reach target with a blue one.
Sorry if it is a little confusing but after the fact will be more easy to understand what I mean.
Please be aware that:
- These points could overpass a little as long as the impulse will be there, usually on a 4H or Daily UTC server.
- Please note that I am only predicting where things happens, not when, because that really depends on others factors such as the agreement of all major sessions - London, NY and Singapore - and also on Events, the fast/slow motion tool.
- Also those points/targets are not random or just imagination, they are in fact result of my calculations based on wave counting, measurement and convergence on very high timeframes starting from weekly charts up to yearly.