So not only do we now have a confirmed break down of the bearish ascending wedge; we also have a almost perfect head and shoulders pattern. We also have a parabolic sar flip and fisher transform crossover to bearish on the daily. Appears we are definitely going down to 7500 though ultimate target initially is 5K.
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Still a small chance of a double top if the following yellow wedge plays out:
it hasnt even begun to look ugly on the weekly. Momentum like that doesnt just roll over and die in four days. We're at the intersection of all these things:
AndI feel like it's really bloody likely that its not going to whipsaw all over them for a while.
There's just too much money to be made from folks who panic about a toe hanging over a line. Be sure they'll make it.
some_guy
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@some_guy, that its *going to whipsaw. I dont know where that "not" came from. everyone who thought "its over it didnt hold 10k" is in for a squeeze, then everyone who thought "its on its back above 10250" etc etc. It's a MM paradise, the intersection of two channels right on 10k.
AndI feel like it's really bloody likely that its not going to whipsaw all over them for a while.
There's just too much money to be made from folks who panic about a toe hanging over a line. Be sure they'll make it.