The price rushed to update the local high, likely to complete the formation of the initial diagonal triangle. Immediately after this move, selling pressure resumed, leading to a decline in which half of the supposed wave 5 was retraced.

Thus, a correction has likely begun, forming wave [ii] within an emerging upward impulse. Moving forward, we may see an unsuccessful attempt by buyers to regain lost ground, followed by a move toward the starting point of wave 5.

At this stage, making any trading decisions is not recommended.

Recommendation: Flat.