The market moved into wave (1) territory that isn't allowed in an impulsive wave of course so I suspect this C wave may be an expanding diagonal. 236.81 is the minimum downside target for wave (5), but it could be 231 as mentioned earlier
Why you do it? When was obvious downtrend, contsantly charting long setups.
Now when we are finaly in an uptrend, calling bigger retrace.
240 was retrace, right there. Former resistance, now support .
Such no respect for the structure.