Short

dead cat bounce to new lows

Updated

I've been following this emerging pattern for a while now and believe it's a WXYXZ triple zig zag corrective wave after the recent rally we had. I don't think the rally was a bull rally though. I think it was a B wave and we are now in a massive 2 year C wave which will play out similarly to what happened in the A wave of 2019.

Trade active

Opened a short from 10420, expecting it to go down 5 waves to ~8600.

Note

I'm measuring the bottom of this 1st wave (of the larger 5th wave) to be 9650 and will close the short there and reopen another short at the top of the 3rd. But we'll see how the sub waves measure up.

The fractal pattern in the background is a little bit off, which I've corrected in my follow up close-up chart link below.

Note

shonkystonks

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