This is a high confidence set up, looking to sell on wave c of ABC (full ABC not illustrated) Wave c always unfolds in 5 waves, so this wave (which is impulsive) needs one more leg to the upside. the sell target will be 0. 5-0 .618 of wave iii , but only once 5 waves have unfolded. because the larger picture is an ABC, the downside target is very big, possibly on a larger scale aswell, making risk reward at least 1:5.
this is the bigger picture. worth waiting for.
If volume pattern repeats we could see a slow grind up again on the smaller TF to test our resolve. That's easier to handle for me with a smaller lot size...