In Elliot wave theory this is the trend we are trying to complete, the one in black with the pink third wave. ... It probably ends when it hits that lower green trend line or beyond.... Also Notice, that There is a Broader pattern.... Theoretically after this move completes ... We will get a solid bounce Test that green trend again.... Then move lower..... But..... This is defiantly trad able, and getting out in a smart position will be good.

This shows the trend lines..... We should get bounces at everyone of them........ But you have to track the trend line in real time.... But it's very likely we bounce off 1397 bounce back to 1400 and Fail down to test 1378 Bounce Maybe fail again..... I'll look for a bounce to 1400 and take a new short position.