Determined wave 5 potential termination targets, already crossed 16,718 so the next one is 17,320. I am hoping to observe price action the next few days and take a short position accordingly. The stop loss levels would be 100-150 points above 17,320.
Wave A should then correct to at least 40-50% of wave 5, potentially more. Will see how price action develops further and update this.
(Not a trade recommendation. Purely sharing ideas. Feel free to use my analysis but please make your own decisions. You are responsible for your own money, keep it, grow it or lose it).)
Wave A should then correct to at least 40-50% of wave 5, potentially more. Will see how price action develops further and update this.
(Not a trade recommendation. Purely sharing ideas. Feel free to use my analysis but please make your own decisions. You are responsible for your own money, keep it, grow it or lose it).)
Comment:
The price may not reach 17,320. I feel there is a little bit of steam left but not too much. I think I will initiate short positions for myself next week or the week after depending on price action.