1247.50 high held the market back. High probability trade to enter ss against that level. the first clue was a sell pattern off the 8min chart and double top at 1246.75 for another entry ss.
IF this is corrective wave, THEN will look for new low below 1234.75. The first clue that we might pull back against the 1247.50 was the idea that we were in a corrective wave 4 pattern. So, I have a target to aim for for the short entry, and then I look for the divergence and a sell pattern for a high probability trade. We also had a 3 wave pattern, with 5 waves in wave c into the test of the 1247.50 high. As per yesterday's post, the idea for this trade was also because it was against the LIS of 1246.50 to 1246.75.