ABC correction - at pink, then we have a perfect elliott waves ratios IF we do not count with the news wick from previous week, and count the close price.
Elliott 5 waves movement - the black line* Wave 1 followed by a correction at 61.8% fib forging wave 2, then a new wave, eventual wave 3 at 161% extension of wave 1, now we have a new pull back, lets see if it crosses the higher of wave 1, and IF wave 5 "is" = to wave 1, so, start to measure ;) - at the same price zone we should have the completed Bat pattern.
Also, IF this is not a 5 waves impulse, it could be a larger ABC correction - blue line**, and we can say also, eventualy an AB=CD pattern at 141% extension inside cluster zone.
I will ignore this waves count, if the market print a close price below wave 1 high's, and that will give me signs of a possible bearish momentum approaching.
Please, take in consideration the ratios are not guaranteed, and that elliott waves are much more complicated than this default ratios that i am using as study. This is just an orientation.