Despite of that. From an EW point of view a long term correction is taking place since 2015. In the short term a ii-(5)-5-c wave is in progress. That correction may correct almost a 100% so a 2.29 can be expected higher than 2.3 will invalid the count.
The operation will follow:
- Open short when the is broken. Arround 2.17 depending on how long it takes.
- Stoploss 2.33
- Take profit target 1.95 at the end of iii-(5)-5-c (ratio 1.37). The alternative target is the end of (5)-5-c wave at 1.7 (ratio 2.75)
*do not pay attention to the smaller degree count (circle) waves 4 and 5 aren't meant to be there. Apologise*