Wave 4 has met a high probability reversal level at the confluence between a .382 retrace of wave 3 and the price zone of the previous degree fourth wave. Wave 1 time to completion provides a forecast for wave 5 completion time. Price range of wave 1 as an extension from current levels coincides with 1.272 extension of wave 3 and provides a target for fifth wave completion price. A second target may be placed at the 1.618 extension of wave 3. This level was targeted by wave V of 3 and may again become an important level in the upcoming wave 5 structure.
