On 28th March my idea suggested a possible path down to finish Wave 5. This move could be followed by a ABC correction wave and I believe that the B wave is over. With divergence on the momentum indicator and with the momentum above 14SMA, this is also increases the chances of this possible BUY trade holding true.
Comment:
As a trader who only trades off of the daily chart, this idea proves that waiting until the days trading has completed would be beneficial. The daily chart right now still shows momentum divergence but the price has dropped a lot. Looking back to the last 'important' price, 8928 bottom stands out. I think waiting for a candlestick or consolidation that shows selling exhaustion and increasing momentum would be far better than jumping into a BUY trade based on a 'feeling' that the bottom has been reached.