The liquidation break looks impulsive and is what I would expect after a nest. My general thought here is:
We’ll see if we can get to the orange box, but regardless of where this particular move ends, I’m looking for a 3-4-5 minute (blue) degree (to finish minor [green] 3), followed by a 4-5 minor (green) waves to finish intermediate (orange) 1. What I would like to see between minor (green) 3 & 5 is bullish divergence on the hourly.
I think they may get a “holiday rally” of some kind, just from lower prices not from up here.
*All of these boxes may need to be adjusted based on the length of this wave we’re in now.
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