Hi everyone, hope you are all great.

So... Let's get into it...

Weekly Chart is showing a quick raise in Wave C(red) to complete Wave (D), seems like another drop for Wave (E) is still targeting 

the lower triangle trendline, to complete this long term correction...

A rise from the lower trend line, after the this long-term correction, under the current count,

would suggest the beginning of the start of Wave (1) of a long-term raise.

(a drop across the %50 retracement would favor Alternate #1 count for an extended Wave (C) correction towards the %62)

Daily Chart is showing the current Wave (E) still continuing towards the lower trend line and possibly previous lows (of Wave B(Red)).

(where Waves A(red) and B(red) showed 3 internal waves and Wave C(red) shown 5 internal waves move

for an expanded flat correction)

The moves continue to be corrective in nature overall, and still below the EMAs, so I wouldn't start long positions until

the price raises higher impulsively for the start of the new trend up described in the Weekly Chart.

4Hour Chart is pointing at the price completed an extended corrective Wave iv.

Since then, there has been a clear 5 waves move that could be completing or extending the current long term move explained in higher timeframes.

60Min Chart shows the 5 Waves down that could be completing a higher Wave i if the move gets extended further to the downside.

Weekly Chart is showing an extended Wave C(red) now at nearly completion of just its internal Wave [v] 

to potentially make a last high (unless is a failed Wave [v]).

Notice the Alternate #2 for more extensive correction of long-term Wave [B] to have in mind.

Daily Chart is showing Wave C(red) almost completed in the form of 5 waves

to make for an extended Flat correction, as it broke out of the internal Range and 

now is above the upper side of the long-term triangle formation (blue trend line).

Wave [iv] seems to have confirmed completion above the blue Trend line and 200EMA

And now Wave [v] has Raised impulsively to eventually complete Wave C(Red)...

4Hour Chart is showing the price trending within a Range that has been broken to the downside,

completing Wave (c) of Wave iv in the form of 5 waves.

Immediately after there was an impulsive move up in the form of 5 waves that could have set up the initial Wave i of larger

Wave [v].

Next, watch for a decline to complete corrective Wave ii before the price continues the moves up.

60Min Chart is showing Wave i possibly completed.

So I am expecting the price to break the current Market Structure and drop below the EMAs to develop corrective Wave ii

towards the %50 to %62 usual retracement of Wave i.

Weekly chart shows an extended Wave (4) correction hitting and rejecting the 200EMA to 

potentially put an end to this correction rally.

At this point the price could start coming down lower to start Wave (5) or continue higher as Alternate #1 suggests.

(Note Alternate #1 for a possible larger Wave (4) developing across the 200EMA).

Daily Chart is showing the Wave C(red) completing Wave (4) in what should then be a false breakout 

of this long term triangle formation (blue long-term trendline). 

Next, if this count is correct, we should expect the price to continue the moves down impulsively for Wave (5) towards

the lower trend line (blue) after the current corrective Wave (ii).

4Hour Chart shows Wave (ii) correction extended as it is still lingering at the %62 retracement of Wave (i) and potentially hitting the %76.

The latest move down could now has set the scenario for a larger range (blue).

Next, I would wait for the price to confirm Wave (ii) completion,

before committing to short positions.

60Min Chart is showing the internal waves count of the now extended Wave (ii) which could potentially be completed at 

the upper trend line of the newly created Range (blue).

All the best for everyone and please do not hesitate to contact me if you have any questions or comments.

Andres

Please be aware: that these Analysis are own opinions, not Trading advice; Trading carries a high level of risk, and may not be suitable for all investors. Before deciding to trade you should carefully consider your investment objectives, level of experience, and risk appetite.