Good morning everyone. We are coming into a window of weakness so we are looking to begin layering in some short positions. The ideal setup would have us revisit the 2110 area without exceeding grey 2/B. We're also still very aware of the potential double retrace of an extended fifth wave highlighted by the magenta channel. So we'll be conservative with the entries in the event it wants to run up into the 2120's. Ultimate stop for this trade is against 2132 and target is new lows below 2051. Below is the link for today's Market Structure Projections and key timing.
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