Chart updated with observations . Open was below SAR 5320 and now may be in last leg of ST correction . 5195-5225 is a low risk zone for longs which will be counter trend as of now (look for reversal signals in lower TF ) so caution for position sizing and stoploss. ST bias is down now.
A probability of this being the A leg since 5378 (in a-b-c subwaves ) and correction further extending after doing a B up remains . Close above Down Trendline confirms the end of correction.
Any break of lower trendline which will also break the 200dma has further bearish consequences.