It's a short term chart and I'm looking for short selling. You can see the 5 waves up on the arithmetical scale. I'm looking at little good level to short sell such as 269-272.
If we just look the retracemenet 38.2% is at 255 which is also in the area of previous support{wave((4))}. Therefore certainly there's a great potential for the downside as target. require to observe 269-271 for maintaining risk reward ratio.
The Ending Diagonal - invalidation If the price will go 277, then this wave counting is invalid.
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Open was exactly 277, and invalid was 277.3 above. The price is falling as expected and tested 248 with low.
Trade closed: target reached
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I hope you enjoyed low of 215 in 2days
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Expecting more fall... Let me show you more lower TF in next update here