will short if breaks the blue channel and will probably short again if breaks yellow trend line
the current wave structure suggests we may see more downside movements
looks like we may see another c wave down soon however no price action to confirm b wave is completed
the recent price movement looks corrective, will short if break 5300 level
an ideal confirmation would be a smaller degree 5 waves down followed by 3 waves up
5mins chart shows more bullish potential, all my shorts were closed.
ASX200 had another push and made new high, but it looks like an ending diagonal, expecting more downside today
if the recent rally is an abc zigzag, the direction may reverse very soon
Looks like an ending diagonal is forming, if it happens will short
more short opportunities may arise if we see a 4th wave rally
If the price drop below the current yellow channel i would think the previous high of 5291 is the top for the short term at least. Then I would label the current movement as 12345 for a leading diagonal. If short now, stop at 5291
Expecting another trend reversal will happen very soon will short if a sharp drop below 17140