structurally 2hr UJ is in a valid downtrend (no current break of major swings highs and lows)
i blurred the first swing into a big trendline, the rest of the major swings, i didn't blur.
(1) indicates first swing low, (2) indicates retracement of previous high. this (2) high will be maintained for some time for now.
*using the above chart
1st possible scenario and the most likely to unfold: bearish trend is unfolding with 3 downside movements, currently were in wave 4, if it exceeds (1) at $2450 (red horizontal line), then this will invalidate this scenario and the second scenario will unfold. due to the rule of alternation wave 4 (retracing or correcting wave) will be at...
