I am not as advanced with wave theory as anil, but the way I trade and the strategy that I use is I always look for a consolidation after a breakout before I enter a trade. This trade is in a correction right now and it is starting to break for an impulse down move. If it doesn't consolidate and just breaks quick and fast I will let the trade go. I always wait for the confirmation of a breakout with a consolidation. I hope this helps. I see this dropping just like anil but I usually am a more conservative trader so my advice if interested in the wave theory is study, study and study! It takes a long time to understand and develop the skills needed to trade successfully with Wave Theory.