Of course a short was to be placed at 1.618 of BC but after the strong bounce (low timeframe ) from B also 0.5 – 0.618 shorts gets risky and it became clear that we were note going to touch A or C target ~12.8k.
Now we are pumping in this wave 5, by my count, from march (can check related idea) from ~10k.
Take a mental note of 0.618 at around ~12.7k 0.5 levels.
We are probably going to see a correction. also peaked on this last green 4H candle, and we are also seeing a div .
Any breakout above 14k will invalidate this study.