Short
Explosive move downwards incoming soon.
2 weeks ago was the big pump from 350-550. previous week ranged from 500 to 427. this week has ranged from 450 to 419. the market is compacting. this is a basic law of the markets: expansion and compaction. you can see pretty much always small bodied candles will be followed by a huge body candle.
for the past three weeks the weekly range has been compacting. it has also been making lower lows and lower highs. thats why i made ranges with horizontal lines, to illustrate the range compacting. and also you can see the range is making lower lows lower highs.
450-419 is a very compacted and tight weekly range and something big is about to happen. you can even see the daily candles too are small bodied.
i would be concerned if price broke 450, at 500 i would be full bullish. however i dont really expect even the daily high of 435 to get much action.
fud is coming out of china soon.
for the past three weeks the weekly range has been compacting. it has also been making lower lows and lower highs. thats why i made ranges with horizontal lines, to illustrate the range compacting. and also you can see the range is making lower lows lower highs.
450-419 is a very compacted and tight weekly range and something big is about to happen. you can even see the daily candles too are small bodied.
i would be concerned if price broke 450, at 500 i would be full bullish. however i dont really expect even the daily high of 435 to get much action.
fud is coming out of china soon.
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