- A 5 wave decline can be spotted on the chart, with prices taking support bang on the lower channel boundary marked by the blue circle.
- One can make a case for longs at this juncture, citing very low risk to reward ratio.
- But I guess trading at this juncture is like playing with fire, it would be better to wait for the markets to tip their hand first.
- Else it has always been fun to get trapped on the wrong side and then hope for the markets to go our way!
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