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- Squeeze Pattern. When this pattern emerged last time, the price plunged. This time the opposite is expected.
Is your current most likely reversal scenario still around 6950-7100 i.e. more likely than for example somewhere around 6500? I find 6500 or lower a bit more likely even if we bounce a little bit on 7k because of the resistance we will face around 7600 (see chart below).
Also the channels you draw from the beginning of your waves doesn't seem to have many confirmations. Is this a bit irrelevant in your opinion as it still defines a range? Or how do you rate the validity of these channels?