We have a corrective pattern forming this looks to be a contracting flat however cannot confirm this as of yet so will watch closely for confirmation, with this is mind will be looking for the third wave down to complete a 3 wave pattern using the 1hr 270 fib as a target profit at a price of 126.819..
Taking a sell position in anticipation of a Contracting Flat could be very rewarding taking into account the risk : reward.
Predicting a Contracting Flat is an uncommon idea since it's not part of the classical pattern discovered by Elliot. But, this pattern occurs often so taking this trade is a good idea but risky.
Trade with care. Use a strategy you have...
