Here is count #1 that I'm currently watching and it's in an ending diagonal trade that would call for one more high , possibly to the 16775-17000 before we turn lower toward where the triangle started and most likely much lower.
The 2nd count is that we have seen the high already as we have 5 wave pattern lower from the high of 16735.50 and we are hanging around .786 level that qualifies as a completed wave 2. The only rule that would disqualify this trade would be a break above 16735.50 to a new high.
Both these counts are in play right now and I am holding short and looking to add to my position as both counts are pointing to a push lower to come soon.
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