We have two pretty good EW Counts - A complete eight cycle, followed by a another five wave impulse, meaning we could be looking at the start of at least a short correction Wave 8. Priced touched the 200% fib extension off the last high. Of course we all know we are at an all time high where we have bearishTweezer Tops and Doji , and also bears divergence with Stochastic rolling over and signal cross low. A retrace to the 38.2 fib - would have the gap completely filled around 2681, for a first target. After that it may very well start back up or you can hold for a bigger wave A down. What ya think ?
Trade Triggered with completion of AB=CD major, confluence with a smaller 1.618AB=CD on lower time frame, all at the all time high. MA cross and break below previous low. First target is the 38.2 retrace which will fill the gap
Trade closed: stop reached:
Bullish engulfing and MA cross for 27 ticks. Now we wait for wave B to complete and then enter again to trade wave C down