Why did it fall because the 5 wave impulse was complete . I have not shown the Elliott channel it would be cluttering . But it sticks to the Elliot channel.
Shorting a bull market is not good.
So a buy at 283 (preferable) or at 250 ( u may not get).
I have observed that ABC after wave 5 is always bought into . So wave 5 in an impulse or a correction has been truncated
As there is breakout of the pattern its time for short sell,i just takes decision once the market is started.
As once the market starts moveing downward we may opt for short sell till it reaches support line.
CANBK is on uptrend and correcting after breaking it's trend line on weekly and daily chart. Breakout was considered as trend reversal Currently we are expecting this is long term correction and can expect 400+ target.
We are tracking as nested impulse count and breakout of 300 is also confirm completion of shorter correction. Lower time frame decoded micro count...