The wave (I)(II)( III)(IV)(V) is just entering the impulse state at ( III).
I'm not into divergencies , but here on and monthly is how i justify that this wave (I) is part of (I)(II)( III)(IV)(V) impulse. Additionally the move marked with simple white line is negated by (I).
So in my humble opinion we are going to have a rally to at least 1.1800 for the wave ( III)
And right now we are in the deveolopment of the firts impulse of 1-2-3-4-5 encircled.
here is where i'm unsure about the correctnes of the count of (1)(2)(3)(4)(5) , whith most probably wave (5) going into extension. However the encircled 12345 is Ok.
The trading idea is to wait for that pullback and enter a BUY. I think proper area for BUY will be price between FIB 0.5 and 0.618
*FIB grid is not updated on the screenhot. Anyway we are talking for price abouve 1.04 , when the correction occurs.
Got lucky, have my stop at break - even and hope to move it at profit. However i will be reentering as soon as the pullback finishes.
Let you know about that.!
Have a mental stop loss here right now, in case triggered in next 12-14 hours.