Incorrectly labelled the up move as an impulse, it is more zigzag like. In a downtrend, 3 move up is likely corrective. So the correct count is is this. Should retest lows. I'm looking to short 23% retracement. Around 6.5
Note
Hit 6.5 today, but still one more leg up needed so could go up more. Will short on Monday with SL 7. Also, it is important to note wave counting is dynamic and based on price action, if I see something bullish/the next leg down doesn't crack support at 6, than I will switch to long.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.