According to my Elliot waves analysis we are still in downtrend. At the moment we are in C wave of ABC correction waves. C wave always consists of 5 subwaves. As you can see on a chart; there is starting to form THIRD subwave, wich is usualy the longest.
In my opinion this is good entry point for SELL POSITION to open. My stopp loss would be slightly above point 2 (second wave).
What are your thougts?