Some hope on the horizon

Morning folks,

So, minor dive here has happened, for the truth sake, it is not to 26K, but daily bearish dynamic pressure is done, as this pattern suggests just appearing of new lows, whatever lows are.

Anyway, right now the major interest stands on intraday charts. First of all, this minor spike is fake downside breakout, "Wash & Rinse", when stops have been grabbed. And this is potentially bullish pattern. But we have twofold problem here - this is the only pattern that we have and second - price performance after pattern is formed stands weak, no acceleration.

That's why you have to make difficult decision - either you take position only due this "W&R" pattern with the stops just under its lows. Additionally, we could keep an eye on "222" pattern. It could provide more confidence once it will be formed.

Bears, in turn, could consider using of Stop "Sell" orders on a breakout of recent lows.