Using macro-fractals to justify targets in case of a last spike or continuation of downtrend.
I seriously doubt another spike but since there is a fractal that justifies even the slightest probability I'd add it here. After all I'm not interested in being right because I made this idea to get to bottom line of the correct long-term fractal that is currently forming.
Fractal A basis:
We also have to acknowledge that the right patterns of the fractal might have rhymed at a different price level if we judge by cycles only: (What if market doesn't have resources to repeat levels because it has lost its bullish momentum)
Fractal B:
Shows a rapid fall but it doesn't yet mean price will go in exactly same manner because market has expanded since historic fractal and has more factors influencing the price. There are more participants and to do exactly the same movement requires alignment of similar market executions by those extra traders involved. Therefore cycles deserve more attention than price levels. Market might have changed but human nature will stay the same.
Fractal A basis:
Fractal B:
Shows a rapid fall but it doesn't yet mean price will go in exactly same manner because market has expanded since historic fractal and has more factors influencing the price. There are more participants and to do exactly the same movement requires alignment of similar market executions by those extra traders involved. Therefore cycles deserve more attention than price levels. Market might have changed but human nature will stay the same.