Road to 7200-7500 is opened

Morning everybody,

Well, it is not needed to talk too much. Few days ago we already noticed our doubts on price behavior and that it doesn't correspond to normal price action of bullish market.

As we've pormised the breakout of right arm lows of our H&S pattern triggered chain reaction of breakouts, including last major support of 9K area.

As a first result of collapse, market hits daily Oversold and completes 1.27 butterfly extension. This is not good moment to go short right now - wait for pullback to get bearish continuation patterns, such as "222" Sell and
take short position.

Next target is 7200-7500 area - our major bearish scenario. This area includes weekly 5/8 Fib support, AB=CD target and 1.618 butterfly extension.
This is major retracement down guys and by its end we should get sweet entry point for major long-term trend. This collapse is not something outstanding - it is normal. We talked about it two months ago. The question only was whether it happens right now or after market will hit 15.3K target.

Now we have the clarity...