Dear Colleagues, I believe that price is still in a five-wave downtrend. The mid-order wave “3” is in a small correction, but very soon the downward movement will continue.
I believe that the price has already closed the gap and may reach the resistance area of 74, then I expect the price to decline to the support area of 67.046.
There are 2 possible courses of action:
1) The riskier one is to open a short position on the market.
2) Conservative - wait for the price to rise, and enter with less risk.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
I believe that the price has already closed the gap and may reach the resistance area of 74, then I expect the price to decline to the support area of 67.046.
There are 2 possible courses of action:
1) The riskier one is to open a short position on the market.
2) Conservative - wait for the price to rise, and enter with less risk.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Note
I specifically wrote on the chart that I don't recommend buying it. It is, but at the moment I still think that the price will rise a little bit more towards the 74 area.Note
The price is slowly approaching the resistance area, but there are no obvious changes yet. After the election, the chart has gone a bit quiet, but I am sure that the local high of 73 will be updated.Note
Colleagues, I believe that price is in a difficult correction and wave 2 may not be complete yet. The level of 73.10 can still be updated, but an update of the level of 70 may mean that wave 2 is already completed and the price will go further to the target.The beginning of the week will show the price sentiment.
Trade closed: target reached
Dear colleagues, the price is very close to the 67.046 target, so I will prefer to close the position a bit early. There is a probability of a strong correction, and so it is better that we enter the short position again later. 
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✅ Free TELEGRAM channel: t.me/HellenaSignals
🌅 INSTAGRAM: instagram.com/hellena_trader
🌅 INSTAGRAM: instagram.com/hellena_trader
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.