From the count of ones and twos in series, and a lesser number of threes and fours, this wave count suggests another drop is coming. In addition to the EW count, we have a nice bearish bat complete at near the invalidation level, meaning YES! High R/R potential. If the count is invalidated I will update with a correction. SL is placed above the invalidation level.
Trade active:
It appears our downtrend has begun! SL placed above recent highs:
Trade closed: stop reached:
Looks like we have a deeper correction and more sideways movement. Here's a short opportunity toward the middle of this correction. I'm currently short from cypher level:
