Wave Analysis

During the previous trading day, the impulsive wave (E) traded significantly to the lower side and is still pretty much bearish both on the daily and the weekly charts. Following the bounce from the upper trendline, we expect the impulsive wave (E) to extend further to the lowerside and should break below the lower trendline. You can still look for a short position now, or you can wait for a breakout below this trendline to pick a short position with your take profit at 4500.01. At the moment, only a sell position looks ideal.

Trade Recommendation:

we're short

101% Double the volume