Hi everyone, hope you are all great.

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

Weekly Chart is showing Wave (E) could have been completed if the price re-enters 

the lower triangle trendline, to complete this long term choppy 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 been showing the current Wave (E) could have found the bottom as the price is crossing the 200EMA after a long time... let's see if this impulsive raise continues across the 200EMA... 

Act with caution; ... but these could be early signs of a new trend up starting...

4Hour Chart is showing the potential completion for the initial Wave 1(blue) of Wave iii of the new trend up...

Although I marked an alternate count for a Wave iii (?) already completed instead...

60Min Chart shows the potential for this new Trend up... 

with the first 5 potential internal Waves of Wave 1 (blue) likely completed...

Whether the price makes a new high or not to confirm completion of Wave 1(blue)

next we should expect a correction to bring the price sideways and down to develop corrective Wave 2(blue)... (or Alternative Wave iv (?))

while it picks up momentum to continue the impulsive moves of the current Wave iii...

Weekly Chart is showing an extended Wave C(red) now most likely at completion of its internal 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) completed with Wave [v] most likely completed at the top trendline of the Trend Channel(yellow).

So watch for the price to head towards the 200EMA and lower Trendline for the potential of a new long-term Trend to the downside...

4Hour Chart is showing Wave (i) and Wave (ii) completed and Wave (iii) developing...

If this count is correct we should expect the price to continue moving down in a impulsive way, towards the lower trendline (yellow),

after the current correction.

Notice how the latest impulsive moves created 5 waves that define Wave (i)

And the corrective moves afterwards completed also Wave (ii)...

The current Wave (iii) has not yet reached the 0 length of Wave (i), which suggests 

it is not completed yet, so its internal Waves playing out...

60Min Chart is showing how the price formed 5 internal waves, after completing Wave ii, which could have completed 

Wave 1(blue) of Wave iii...

Although I have marked Alternative count for Wave iii completed instead...

Price action this week would confirm which of the two counts best suits...

Weekly chart shows an extended Wave (4) correction crossing the 200EMA in a rather struggling way...

At this current resistance points the price could start coming down lower to start Wave (5)

or continue higher as Alternate #1 suggests...

Regardless of the direction, the moves look rather weak than impulsive...

(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).

If this is a false breakout the moves could start bringing the price down impulsively if it re-enters the blue long-term trendline.

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

But the price still needs to breakout of the current tight Ascending Range formation (yellow) and cross the EMAs... 

4Hour Chart shows Wave (4) correction extended and forming an ending diagonal on the last Wave 5(blue) within the current Range formation(blue)...

Next, I would wait for the price to confirm the start of Wave (5), before committing to short positions.

(i.e. breaking current Market Structure (blue trendline) to the downside)

60Min Chart is showing the price moving rather sideways within the current Ascending Triangle formation...

Watch for a breakout to the downside, which could lead to further moves downwards, as per current count...

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.