we are at the trendline now. in red i show the impulse down. in yellow a 5 wave correction.
now observe what happens.
plan a: price falls and you may enter with some bearish engulfing and stopploss above last high (or above your candlestick pattern for more aggressive trading) plan b: price keeps going up and breaking out of the down-channeling structure. then you can buy after some bullish correction / flag.
i like the downside better, but who am i to know or tell...
trade with care, dont risk more than 1% of your account on a stopploss.
Trade active
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SELL TRADE according to 2618 rules
Trade closed: stop reached
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Comment
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we have to watch carefully if now a correction starts for more upside or if prices falls back into / below the channel line and goes for one more down.