If the price will sky-rocket to the upside then is certain a triangle (expansive triangle) and only after the completion of wave E will have a major downside movement, possible to 0.7000. 0.7209 level has to remain intact to not to be a triangle. {image}
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For me, once 7150 gives in, no retrace before 7110. GDP data is out on Wednesday and I'll cash in all my shorts. A correction might be due regardless of the actual numbers especially since a lot of positions will be closed out at the end of May tomorrow night. I don't know if we'll see 7300 again but in case of 7250 I'll reload heavy shorts again targeting 6950 first. {image}
