it seems that flat 2 is less likely to happen, so i guess wave 3 is already underway, any pull-back should offer us opportunity to join the uptrend
It simply looks like a three-waves correction after an impulsive decline
looks like a flat correction in the middle could sell for wave 3 or C
Looking for selling opportunities to catch wave (D) or part of wave (D) of the triangle
third of a third wave may continue, next possible target level around 1.2744 alternatively, we may be an extended wave (v) Further corrective patterns may offer us more chances to join the down trend
if the pink a-b-c is an expanded flat correction after the initial decline (52.83 to 49.75), we should expect another wave down once the correction is finished note wave b travels approx 1.382 times the length of wave a
Sell after the pull-back to catch either pink wave {c} or blue wave (C)
Looks like a 5-waves impulsive sequence has been completed a break below 131.708 (alter wave(i) top) would eliminate the alternative blue count
potential target for pink wave {5} of yellow wave 3 is 22911 where pink wave {5} equals 0.618 times the total distance from the start of pink wave {1} to the end of pink wave {3}
Blue & Yellow count suggest the decline should continue Pink count argues another modest push before large degree fall is also possible
maybe another modest push towards $285362, where wave (5) travels 0.618 times the total distance from point 0 to the end of wave (3)
assuming the current rally is just part of the correction after initial impulsive decline
Looking for short-term trade opportunity for the downside, expecting wave (v) decline to achieve a new low
Sell after blue sideways or sell after pink wave (c)
Possible 5-waves decline followed by 3-waves correction
possible 5-waves decline in green, but lack of price evidence. looking at S&P500 and Nasdaq100, i still think all 3 major stock indices are in large degree wave 4 correction.