- the big picture still looks pretty good to the upside, however; we do expect a minor retracement to around 0.277 soon.
- this is because according to elliot wave theory, a 61.8% retracement will follow a non-standard correction (abxcabc).
We are currently approaching the end of Minor Wave C (Red). As of now we cannot confirm for sure that Minor Wave C has ended; the breakout of the white trendline is needed as confirmation. Hence; a good entry point would be where price broke the white trendline.
