As you can see, we are doing some corrective waves from the impulse down made from 1900's to 1040. In the chart, Y has reached 1.618 Ext of W with his inner 5waves impulse. So im expecting this move down to be finished and we make our way to C of the cycle and B og the supercycle. I'm still learning EW so any suggestions will be appreciated. Aprox traget: 1450
Price has reached prior bottom of 1211 and expect it to move to top of the range, also forming a Double Bottom, so first TG will be top of the range, second TP 1254 as for the double bottom.
Got in at 1215 and SL below range lows
I'll be looking for signs of reversal once we reach any of these points. Although I'm thinking the 0.5 Fib more likely to be the bottom, I can't rule out the 0.618 Fib. Shorting beyond this point is not advisable. W/L Ratio is not good