A Classic / structure has marked the Completion of a 5 Wave Impulse
suggests we are now in a Wave 2 Decline that can retrace this Wave 1 advance that just got completed
I have a Minimum Target of ~ 725 for this Decline.
Key Levels to Note:
700 psychological level
Where this Wave 2 Decline will Stop, I do not know but there is a High Probability that we will at Least meet Target 1 for this Downfall.
My View Negates if we make a New High above 868
Studies apart from EW such as:
......Are ALSO Confirming my Thesis, SO if you do not want Short at least I Will not be a Buyer till SBI CARD makes a new High.
Provide me Feedback and Support if you liked this Setup
Happy Trading :)
Price also at confluence of Trend line Resistance as of today. Good to have extited longs today and gone short keeping today's high as Stop Loss.
Watch it Crack down tomorrow!