Wave to Wave-2, Then Wave Goodbye...

Not an easy trade. You don't have to catch the falling knife. Let a pivot form and look for the next higher low on a smaller time frame. It will be the "next" wave-2. Stop below the pivot low. These are the trades you wait for... I'm not saying the low is in. What I'm saying is that this kind of a move creates opportunities. You have to wait for a move like this to give you the risk reward scenario that pays for all the times you'll get stopped out. You just have to keep swinging and watch your money management. No need to go big on your first entry. If the Wave-2 low is in, there will be multiple opportunities to add on the impulse that follows.

Stay technical my friends... especially on days like this.