Is it about to drop?

I'm a big fan of Gann Square and here is another idea:

Target: 3,83
When: 1.November 2018

Why:
- Arc number 5 was just completed (the last arc got hit), this indicates a descending path ahead.
- It might go a little further hitting the outer arc and a stop loss in this area would be an alternative.
- EW wave theory fits in.
- Local and global fibonacci level + Gann arc gives us the target.
- The peaks are getting more and more steeper, my gut says it will drop anytime soon:P

Note! This is a log scale chart.

Comment:

Another argument: Fib channel gives us the same turning point.

Comment:

A close-up gives us this small triangle pattern:

Comment:

A break-out?

Comment:

Just want to show an example of how Divergence also could have been used on this case:

Comment:

Coffee break anyone?

Comment:

Here is my next short term strategi:

Comment:

In this case buy zone means buying more short positions and vica verca.

Comment:

It's is getting critical right now as it is closing in to the "sell zone". It might be a good entry for new positions. Stop loss above the inner arc would be great.

Comment:

It is clearly outside the inner arc, but because of some drawing error it might work still. Here is a last minute entry:

Comment:

Okay, so it didn't go this time... but I'm still bearish in the long run because of the outer arc could be the one. I've drawed some alternative upper lines but those two make them clearly outside the inner arc and then the main idea more unsure.

Again, the second attempt would be the outer arc (it might go fast!):