For that assumption to be true the target 653 and 590 must not be broken.
As it turns out, they were broken down very decisively, this is a good clean signal hinting at a major wave 2 correction instead. ( Which I've also mentioned in my list of possibilities)
These are the new targets to look out for, the first being the target for a primary wave 2 in case that isn't over yet (not very likely , and is already touched and broken once though it still hold in OHLC4 chart)
The last two at 61.8 and marks the correction targets for major wave 2 correction.
Trade with care.
Price has reached pullback target for wave A (one of the many possibilities)
From here, watch closely, if target holds and price drops then it'll be a good place to short with minimal stoploss
If the resistance cannot hold then I'l have to re-analyze.
Still no position yet, waiting.
This pull back is taking longer than I initially thought it would, missed opportunity to go long for a short period.
SL at 592.58
TP at 500
Volume have been confirming an uptrend though, watch out and set you stop losses well for short position.