- The Impulse, wave 1 (weekly resistance); - The 61.8% retracement and wave 2; - New impulse into 127% extension from wave 1 (daily resistance forged); (wave 3 not yet completed...) - Small retracement, didn't touch the 38.2%; (respecting previous structure, ascending wedge or channel, the structure...the thing...) - Price is above the weekly resistance, it can turn into support; - A move upward into the 161% extension from wave 1 and that will complete wave 3; - We know that wave 4 can never overlap wave 1 (cross into the same price area) and wave 5 is "equal" to wave 1, and there's a monthly resistance @1191.41. - We also know if the price enter in a bearish momentum it will need to break the structure and to test it before sinking looking for previous structure (if there's any, in this case shown by the red arrows).