The theory of psychological based market maker trading states that one must preemptively slow the trend, before areas of counter selling, to avoid narratives from emerging at all.
This means that fundamentally prices still reflect the broader market eventually, but counter trend participants are never incentivized to publicly affect market psychology, with...
Hanging resistance at 4500 creating negative pressure on prices and has generated a non linear resistance line.
Topping out here at double price rejection on linear price point 4400. Looking to target double bottom on this gap fill 4271, if not fib extension to 4155 depending on technicals.
Significant breakdown from rising wedge even before interest rate decision and war implies the rally from 1/3 fib is only a combination of technicals and false hope in the hyperinflation narrative.
Looking to find support at inverse, two thirds retrace before any significant loss into Covid market territory as the virus seems like it is going away.
Hopefully...
