The Bearish Case

So far, my today morning long has seen good profits with currently in 9x unrealized profits than the risk. Though the upward trajectory so far is not looking satisfactory to me. There is a high possibility that this can be a zig-zag corrective wave of 4th impulsive wave as shown. We are currently at an important level, in case this case is correct, the fall will catch many people off guard hence the 5th wave can retrace as much as 161.8% (which is around 15.8k region) or even lower.

I am hedging my long position here incase we do go down.

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This trading idea was cancelled