In this position (from the $39,000) highs it's time to protect our portfolio as we try a third time to get the breakdown. This has happened in drastic fashion and a great live example of good position management. The pullback came surprisingly close to our trail, before the old shorts started cheering again at the thought of another fight!
Now sellers have to simply win the lows to complete ((iii)) which will be enough for us to trail our stops from (ii) to ((ii)) ...the over protecting will ensure we are strategic and decrease our radius of risk.
Just one more diagram (since we are tracking the MT chart) in all its forms we will need a whole new thread dedicated to the final wave in this impulse once we complete our 4th wave retrace.
I hope all is clear... if not feel free to shoot a message below or via DM .... To put simply, after (iv) is complete we can update the Weekly and Monthly charts. Why? Because the pullback here is 🔑 to the slingshot that we are tracking later in the year. And in fact, after a test of $28,000/$27,000 a lot of the retailers will be cleansed and allow the remaining warriors an excellent chance for positioning.
Thanks as usual for keeping the feedback coming 👍 or 👎