.ABCD bearish patter is completed if we imagine point D(2) at 1.2 extension of wave BC.
I suggest to open now a position short with:
Target 1: 0.608 fib retracement of CD
Target 2: When price cross under price of point C
Target 3: 1.272 fib retracement of CD
Place Stop loss just over point D (the one shown on the graph) that is the end of a BAT (XABCD)...
Stochastic and Volume are showing good signs of a probable imminent reversal.
The med term macd though is still bearish.
My belief is that the price will retest either the 12/03 minimum or the EMA50 before rallying to an other high.
If you believe that this is a good long opportunity; I suggest to wait for one of the two ipotesis to open at a cheaper price and...
