Wave summary:
A strong decline from 125.58 could indicate that wave b is already done and wave c lower to 119.90 and possibly even lower to 117.37 is developing now. To confirm that this is indeed the case, we still need to see a breakout below important short-term support at 123.07. A failure to break below this later support opens up for a possibility of a triple combination unfolding, but for now we have to go with evidence that calls for a wave-b top in place at the level of 125.58 and wave c developing towards 119.90.
Trading recommendation:
We missed our selling entry near 126.45 and will look for a new selling opportunity at 124.10 with stop placed at 124.75.
