CBOT_MINI:YM1! E-mini Dow Jones ($5) Futures
The Dow has broken out of it's base channel and there is a nice impulsive move happening to the downside. The of wave 1 has been reached. I have no idea if we start to retrace here or if we have much further to go. But if we do retrace in 3 waves to the 38.2 Retracement level of wave 3 at aprox 3500 then i will look for Sells, here are some Confluence reasons. 38.2 Retracement. 3500 Round Number. Previous Wave 4. Strong Rejection here 10 May 2021. So a good place to look for a wave 5 Sell. If we do get a 3 Wave Retracement it could be just wave A of a Wave 4 Triangle, So some patience may need to be applied to realise the full potential of the trade.