Currently we are in a downtrending channel. Elliot Wave target of the WXY is 8.4k, which has confluence with the AB=CD pattern (AB : .382 retrace = CD : 2.41 - 2.618 ext). Sell near the upper boundary of the trend, and counter trend takes could be taken at the bottom of the trend to ride sell the rally's. If we break out of the channel, expect sharp movement either way.
Trade active:
going long, stop loss 8665
Trade closed: stop reached
Trade active:
Opened long. 8850 is the .382 retracement. to be safe you can close long here
Trade closed: stop reached:
counter trend trades did not really work today