It looks we are in the middle of cycle. There will be selling opportunity in 3970 levels. But than we will fall lower :( This cycle lokks more dynamic than previous so i expect reaching lowest low before 16 ocrober, in this time frame i expect trend reversal, it will also fit with weekly RSI which will reset than.
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To get better overview we are in upper down channel of pichfork.
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Be carefull on another bull trap:
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And we are going to bottom local trend line. This is descending triangle so dobt be fool and do not go long!
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Possible scenario:
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Descending triangle and potential down channel created from this setup. First Major stop on 3550 level.
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That was unexpected. Aparently we are heading to 4170
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Too risky for me to play potential divergency on 4h. Waiting on drop down.