It looks to me like a juvi red velvet fairy wrasse. I don't see the markings for a flasher wrasse but it could be the picture. Some wrasses are tough to photograph.
It is a female flasher. As of now it is too immature to positively identify. The markings, dorsal filaments, and unpaired fin coloring will all come in as it matures, but most female flashers look quite similar.
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