We are entering choppy waters around downtrend line but this is just a wave 4 down. Completed the A, on B now and then C should take us down to around the EMA 200 in the 10100 to 9800 range so if you want to add or buy back what you sold/shorted, that would be the range I'd be looking at. Then it's wave 5 time. Don't freak out when subwave 1of5 bounces off the downtrend channel either cuz it will.
FWIW I do think we fall to single digit K again in this broader correction as a falling wedge and right back to mooning ATHs seems too easy. Not enough pain. But market makers have to get us feeling safe again before pulling rug out from under our feet so we should see 12400 at end of wave 5 at least.
FWIW I do think we fall to single digit K again in this broader correction as a falling wedge and right back to mooning ATHs seems too easy. Not enough pain. But market makers have to get us feeling safe again before pulling rug out from under our feet so we should see 12400 at end of wave 5 at least.
Note
WOAH. Just looked at it at 5min resolution and it's really starting to look like this could be a larger correction. What I saw as start of B in a 3-3-5 ABC could just as easily be wave 4ofA in 5-3-5 ABC. Yup, just as writing this the consolidation broke down looking like a 5th wave of A. This could very well be a much bigger correction than I originally anticipated.
Yay, add even lower.
Note
After seeing just how supportive EMA200 was with that big pop off of it. I'd be surprised if we broke down below it, but it will be retested in the next 6 hours imo
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