Although I have been bearish , I think this may be our last correction wave. It may or may not squeeze some longs.
In case market ignores consensus and stays bearish during it for the first time ever, they will get squeezed nevertheless and 6K something becomes a reality once again with anger, and maybe depression.
In case market ignores consensus and stays bearish during it for the first time ever, they will get squeezed nevertheless and 6K something becomes a reality once again with anger, and maybe depression.
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On 15 minutes, wave C is already drawing the 4th ABC corrective wave, but as C is still half way to go and on bearish line, it may be seen too early for a longing position, as the trail stop closed the short.
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"A very small percentage of ending diagonals appear in the C wave position of A-B- C formations. In double or triple threes (see next section), they appear only as the final "C" wave. In all cases, they are found at the termination points of larger patterns, indicating exhaustion of the larger movement." - EWT Basics
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I can't even say this next scenario I gonna post is good for a short, cause everybody on market would lose value.
This is the counting CONTEXT:
And this is the scenario:
This is the counting CONTEXT:
And this is the scenario:
