Death cross, potential AB=CD, and what looks like a violent move down are on chart...
Need I say more?
I opened a short recently, at around 177.75 and I'll scale in on a retracement that should occur in a day or two.
Target is the AB=CD completion or 1.618 extension.
There's a potential falling wedge developing here.
I suggest going short if price travels under the highest low.
If it overshoots the trendline, then I'd be skeptical.
Watch it during the coming days.
Stop loss and take profit levels are up to the trader in the end but this is my interpretation of price action.
I'd reccomend selling and covering around the level the arrow shows, to then long from there.
Good luck!
IFXGuru
