i write to you today to warn of an upcoming descent in the market. i'm not referring to anything extraordinary, just a minor stop-loss raid, below 50k.
over the last 9 months, there has been a significant influx of buyers in the range between 50k and 70k. everyone is bullish, and no one will anticipate this drop—except, of course, those who do.
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the entire structure can be labeled quite simply: the area boxed in red was a leading diagonal (5 waves down) the area boxed in green was a running flat (3 waves up) the area boxed in blue is on the verge of becoming a regular impulse (5 waves down) put it all together, and you have what we call a simple zig-zag.
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once this straightforward correction concludes, the real bull market can begin.