Ok, as per my last analysis I have revisited the shakeout scenario and made some amendments based on looking back at a previous fractal from April. I now think we could actually go to around 6885 first, which would take us above the long term downtrend and give an extremely bullish outlook. From here longs would skyrocket so a sudden move down to 6300 would liquidate a lot of these for a lot more liquidity. We would then bounce off the pink trend line and rocket out of the long term downtrend once and for all.
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Tracking nicely towards our target of 6850 before the dump back down to 6xx.
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Ascending triangle (yellow) to take us to our target before the big dump.
