There is a nice 5-wave decline from 1.5895. It seems that now price is correcting that move with a double-three (3-3-3). WaveC will not be complete until it forms a third wave up, breaking thru the WaveA top.
I am looking at the 1.5765 range as potential resistance for several reasons:
- 1) the Monthly M3 pivot point resides at 1.5762
- 2) the 61.8% fibo is at 1.5767;
- 3) if WaveC = 1.618*WaveA (a common relationship), WaveC would end at 1.5774.
My stop is above the Wave2 high.