Suspect Comex will take those stops right below 1270 with a spike to 1267-1268. Many are gambling on bounce with SL comfortably right below 1270. Expecting then a bounce. Will only enter position long if this plays out, I don't gamble on their hunting-game :)
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1264.8-1267 is an educated guess.
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Hunt has begun, first layer cleared:
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Second layer cleared
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Now, backtest of 1270-region will be telling if this is a fake break-down or not.
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RSI on smaller timeframes supports bounce. Bulls won't give up this easy on such oversold conditions is my hypothesis.
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Majority of stops should now be cleared. Mission complete.
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Washout of longs complete. Now it's time to kill late break-down buyers.
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1270 is first checkpoint for bullish reversal-bounce.
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And late break-out buyers will short 1270, so that we have some feed to get up to next level after a dip. And so on.
Trade closed: target reached
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Stophunt the other direction initiated
