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TOTAL D4: 50% correction warning S/R broke down(SL/TP)(NEW) IMPORTANT NOTE: speculative setup. do your own due dill. use STOP LOSS. don't overleverage.
🔸 Summary and potential trade setup ::: TOTAL D4 chart review ::: updated/revised outlook ::: expect cycle low near 400 bln USD ::: 88% correction in progress now ::: weakness will last for 4-12 weeks ::: LOG SCALE chart ::: not a great looking chart ::: price contained within channel ::: S/R was re-tested and we are still flushing ::: price/ RSI div very clear on D1/WK TF ::: expecting correction mode until SEPT 2022 ::: sequence of lower highs: BEARS ::: 1T was critical key S/R level already ::: broke down so expecting further losses ::: 40-60% correction possible next ::: 4-12 weeks until Sept/Oct 2022 ::: right now no upside in this market ::: position traders should wait for ::: better entry prices later after ::: correction MODE up next ::: be careful don't get caught up in this ::: also overextended right now ::: BULLS remain on sidelines and ::: be ready to BUY LOW later ::: recommended strategy: SHORT SELL RIPS/RALLIES ::: TP BEARS is +50% gains - TOTAL 400 bln USD target ::: BULLS stay out until correction is over ::: SWING TRADE: SHORT/HOLD IT ::: correction run not over yet ::: good luck traders! ::: BUY and get paid. period. 🔸 Supply/Demand Zones ::: N/A ::: N/A 🔸 Other noteworthy technicals/fundies ::: TD9 /Combo update: N/A ::: Sentiment mid-term: BEARS/CORRECTION ::: Sentiment short-term: BEARS/CORRECTION
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I second that! It's a little early to make a prediction now, of course, but all the arguments are the same as the ones I highlighted for myself. So, my scenario is almost completely the same)