You can see the summary of my idea in the chart below.
This time, I focused on wave1 of wave(iii) shown in the orange dotted line.
I showed the sub wave of Wave 1 of wave(iii) in the black line.
I think that wave (3) (Black) will finish soon and will retrace.
After the wave (3) was retraced, the wave (5) will start.
But I think that wave (5) is blocked by the resistance line and will not extend.
After the wave “(iii)-1” is completed, I think wave “(iii)-1” will be retraced by 61.8%.
After the wave"(iii)-1" retraced by 61.8%, I plan to short.
In this scenario, critical stop loss level is 1.151.
This time, I focused on wave1 of wave(iii) shown in the orange dotted line.
I showed the sub wave of Wave 1 of wave(iii) in the black line.
I think that wave (3) (Black) will finish soon and will retrace.
After the wave (3) was retraced, the wave (5) will start.
But I think that wave (5) is blocked by the resistance line and will not extend.
After the wave “(iii)-1” is completed, I think wave “(iii)-1” will be retraced by 61.8%.
After the wave"(iii)-1" retraced by 61.8%, I plan to short.
In this scenario, critical stop loss level is 1.151.