After today's move down, it might be said this is the beginning of a larger, SHORT, run down...typical to think and may be true! However, based on the price (not wave) cycles I've seen over the years, there is still room to move up to 8400 (and higher) and that is my bias for this trade. Today's action just made it easier to make that move upwards after clearing out some LONG players.
I'm personally looking for an entry within the RED BUY zone.
1st Target, 50% of way through the range, 8330
2nd Target, Double Top at 8380
3rd Target, 8400.
A break below today's LO would have my rethinking this scenario.