could trade for wave (iii) or (c) once the correction is complete
31720 if wave 5 equal wave 1 32490 if wave 4 retraced 38.2% of zero to 5
Looks like 5 wave decline followed by 3 wave counter trend rally (unconfirmed) Fibo 38.2% - 50% area may provide strong resistance for sell
the wave labeling may not be correct as we only see a small fraction of what could happen eg. what if this is a (i)-(ii)-i-ii sequence? Anyway, here is the bullish interpretation for the short-term, either blue flat or red trend continuation pattern
wave 4 could be a triangle or a combination wave
Preferred wave count in yellow. But, maybe another modest rally to complete wave v of (v) in pink
could be a smaller degree (c) wave to shake off some weak minded bulls
price could be at the late stage of wave (A)
my target area is near the lower yellow dash channel line
short after sideways consolidation could be a good idea
I am more inclined toward a triangle or other complex structure for B wave