The same trajectory from before and after the "flashcrash" is still in effect. Touches, rallies, pullbacks, reversals all happening right along standard pitchfork trendlines. But all patterns must eventually end...
A look at the 4H chart showing the long sideways since the peak Jan 6th shows a gentle decline collapsing into a steep one. Yes, a rally is expected, but it's terribly unlikely to happen from such a steep slope. Another solid drop and then horizontal retracement and consolidation will be needed to establish a new floor and begin a new impulse.
A look at the 4H chart showing the long sideways since the peak Jan 6th shows a gentle decline collapsing into a steep one. Yes, a rally is expected, but it's terribly unlikely to happen from such a steep slope. Another solid drop and then horizontal retracement and consolidation will be needed to establish a new floor and begin a new impulse.