5 waves impulse leg, one correction is expected.
Let's see IF the price break previous structure (4), giving us a new lower low around point A. (Look left previous structure pressure zone)
Then, point B for a Cypher pattern (a lower high) can be forged somewhere between the 38.2 and forging one AB=CD potential setup with a target at previous resistance and now daily support (D1) , the 141.4% extension, point C for , also a potential buy opportunity.
The projection for point D stays somewhere around the 78.6% from X to C leg, close to weekly resistance.
When completed, short with expectation to hit the as first target, and the 61.8% as second target.
Taking the big picture, the market can enter into a consolidation period, inside this daily support (D1) and weekly resistance (W1) "box"
note:*Zoom out to check clones synced and acting as levels.*
2 shorts vs 2 longs:
Get Short on weekly resistance (W1) - SL above it - wait a retracement, short the (IF=THEN) to break previous structure point A, hit the support (D1), forge point C, enter Long searching for point D, enter short IF completed.
38.2% to 61.8% XA
127% to 141% ext XA
TP1 38.2% CD
TP2 61.8% CD