As you can see, we are completing the fourth Elliot wave. This wave has been rejecting the 38.2% retracement (Fib retracement not shown). Secondly, we can see that this wave has been somewhat steep compared to the relatively flat second wave (one of the guidelines). We can see price action has broken the temporary up trend line and continued to fail to rise above daily pivots (multiple congruents). Very confident trade to the downside! Use the Fib-extension for your targets.
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Like if you find this useful. And trade carefully with effective money management strategies!