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Potential reversal pattern

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if the pink a-b-c is an expanded flat correction after the initial decline (52.83 to 49.75), we should expect another wave down once the correction is finished

note
wave b travels approx 1.382 times the length of wave a

Nota

51.43 is where wave c equals to 1.618 of wave a, a point that close to 61.8% fib retracement level
i think another modest push towards 70.7% fib is also possible
note divergence between price & RSI

Nota

whether the recent high of 51.39 is the end of c or alternatively we have a truncated c , price should break the trend line first

Nota

took a small short with a tight stop

Nota

bearish count invalid

wsbza

'When you have eliminated the impossible, whatever remains, however improbable must be the truth.'

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