Read the chart. Building a short position via puts. Half position at a time, never more that 2 half positions. Take profits on 2nd half position to lower cost of 1st half position. My original QQQ puts approaching paid for.
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The small pink 3 "could be the end of a corrective c wave. No way to know for sure. If the 2-4 red trendline gets busted, look for strong sell off.
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Closed most recent puts for $1.10 profit. Still hold 1/2 position. Debating an exit and re-enter at red 5.