For this reason we need to be nimble here and be open to the idea that last minute bulls try to stage a rally off these levels. Price however is still bearish and therefore still see scope to reach low 200/180/160 level.
I'm going to offer up a road map moving forward from here.
Keep a close watch on the 6.18 as seen in the chart below, sellers should come in and price should fall from here. If price stalls in the mid 290's then we should see a bearish Gartley pattern play out where price attempts to make a move back into the 360's.
The key levels here are the 6.18% and that mid 290 region.
I am going to move my stops from the 50% above the 6.18 and short another 50% from there with stops at the same place.
If this setup fails I'll scale in on a break below the 88.6% otherwise shorts at and near (scaling in) the 161.8% extension with stops above.
It goes to show less is more and wait for the trade to come to you.
Closing into these levels 100% satisfied with this trade.
Until next time happy trading!