Long Theory
Price has broken out of the trendline of this bearish Wave 2. Now preparing for Wave 3, which is the longest wave of the 12345 impulse wave. SL is set below Wave 2, this is because if price goes below 'Wave 2', 12345 impulse wave would that be invalid. 3 TPs has been set for the target of Wave 3.
Once Wave 3 is completed, target for Wave 5 will be analysed in the future after a Wave 4 correction wave