Impulse or Illusion? Key Level to Watch

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Recap
Since the price surge off the March 11 low, structure appears to be developing into a potential 5-wave impulse. However, with only three legs printed so far, it remains premature to confirm the full impulse structure.

Structure Assessment
The move resembles a possible ABC zigzag, but the center leg (possible wave 3) is showing strong impulsive characteristics — momentum, follow-through, and vertical lift. That raises the probability of it being an unfolding wave 3, rather than just a C wave.

What’s missing? A clear wave 4.

Until a fourth wave correction is established, and followed by a decisive wave 5, the bullish impulsive count remains tentative.

Outlook
📌 Key level: 0.00001087
The hold of this level will make the look of the structure ideal.

A break below 0.00001087 would dip into unacceptable territory for a developing wave 4 and opens the door to a bearish reassessment — and if the PA enters the price territory of the wave 1 cause a conclusive invalidation of the potential impulse.

✅ If price holds the level and a shallow wave 4 consolidates, we can then watch for signs of wave 5 to confirm the impulse and unlock bullish continuation potential.

Watch this level. Structure will confirm or collapse soon. More updates to follow.

Trade safe, trade smart, trade clarity.