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Short

Commodities - Lumber Short

By UnknownUnicorn1043646
Updated
Idea for Lumber:
- Lumber has a good short setup.
- By Elliot Wave Theory, correction needs another wave down.
- Possible continuation on downtrend, if Wyckoff Distribution is confirmed.

TP1: 1100
PT: 400

GLHF
- DPT
Trade active
go time
Trade active
China Impulse Downturn gives confidence in the trade:
China Credit Cycle & US Markets
Trade active
On retest, will add to short positions
Trade active
Lumber confirming a downtrend with a new 20D low: snapshot
Trade active
TP1 hit, no bounce is a signal of broader market reversal
Trade active
Rocketing straight down. No bounce: snapshot
Trade closed: target reached
Here is a good level to close the position.
Chart PatternsCommoditieselliotwaveprojectionfuturesLBS1!lumberlumberfuturesWave Analysiswyckoff

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