There is a clear wave count here with bearish
divergence and normal wave extensions to back up the argument that a large drop down to at least wave (4) will occur now. Wave 3 was between 1 and 1.618 times the length of wave 1. Thus, wave 3 was the extended wave and so wave 5 is likely to be less than 1 x the length of wave 1. So far, wave 5 is around 0.786 times the length of wave 1 and I can count 5 waves, so this is a good time to go short imo. Stop loss should be placed generously to allow wave some space to run a little bit. Risk to reward is roughly 1.5 : 1 depending on how well you ladder your shorts.
Disclaimer, this is not financial advice and I am not responsible for any losses you may incur. This post is ONLY for research and educational purposes.