Previous short was stopped out but it seems the overall counts still looks correct to me, hence another attempt to join the potential short.
Here are 2 possibilities, either we get a retrace of the decline or breakdown without much retrace.
1. Entry short: 1.1450 Zone (on partial retrace, but then actual entry and stop loss could be adjusted),
Stop Loss: 1.1517, Target: 1.110 zone
2. Entry short: 1.1350 (on breakdown without retrace), Stop Loss 1.1407, Target 1.1 zone.
Warning: This is my interpretation of price action using TA approach that I consider helps me most but could be completely wrong. Therefore as always, do your own analysis for your trade requirement and ignore my views.
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Keep in mind that in strong trend wave 3 often extends. So be careful of reversal trade. Need more confirmation on completion of the cycle.
I agree, the overall counts are not yet clear. Many are suggesting that the recent high is wave 2 of larger wave 5. I am not sure of that about that count and feel we have complex zigzag correction which once complete we should start in new bullish cycle. Hopefully we will get clarification in due course.