So @W3hunter, what is your read on TMG then, to me it means it is pushing up a level in EW's, what we have just seen is the first 5 smaller waves in the larger 1st, which will now go through a deep correction back to 1.6c? Which is the lower end of the lower level 4th. There is no trade until we get that sharp retrace, or it could just peter out like ENV and go dormant for a while. I suppose now that this one has gone through that first cycle on the lower timeframe, we need to decide when this third (if it happens) wave starts, shallow or deep retrace?
This was probably a trade on the intraday chart to catch the new 250 bar high and retrace. Hasn't made it's way into the daily chart setups yet. 1hr chart
