Here is an update on the 15mins chart. 3waves down from 11.2k region to 10.3k , and wave 4 is forming an expanding triangle. Expanding triangles are five-wave triangles. Triangles are pattern that appears usually in the middle and at the ending stages of the trend, they are usually seen in wave 4 in a motive phase and waves B & X in a corrective phase. I think I should make an educational post on triangles later.
From the chart we can see the last leg of the triangle (wave E) forming If you're yet to enter the short position, wait for the triangle completion. I think that should be around 10.6k region or slightly higher. From there, we can re enter a short position and ride wave 5 to the downside. Once the correction is over, I'll post an update on the potential ending point for wave 5.. Don't forget to hit the like button if you enjoyed this short update. follow me to get more hands-on update. Share and drop your comments below if you want me to make an educational post on triangles. Your viewpoint and questions are also welcome in the comment section. Thanks you. See you soon traders. Namaste