Intermediate Term expectations continue on course. Retracement into Bearish Weekly Swing leg Internal Liquidity underway (Swept first Internal Lower High Pivot on Tue 23Jan).
Bearish intermediate term trend continuation confirmed. Bearish Break of Structure with Weekly candle closure under $1.62. Expecting a short term pullback after filling all internal range liquidity from Jun 22' - Jul '23. In addition, external range liquidity under $1.62 has been sweeped (Long Stops to close have been squeezed, Bearish open sell stop orders...
Possible Price delivery into BISI Fair Value Gap + Monthly Pivot Demand Zone to liquidate Sell Side Liquidity under $1.62 & $1.72. Monthly Internal Structure bullish as long as above $0.88. Monthly Substructure Bearish as long as below $3.98.
Leg 1 = Leg 2 Bearish Measured Move nested inside Bullish Spike & Channel Macro Structure.
Expecting the Path of Least resistance to be downwards unless we continue to see strong Spring type action. Retracements under a declining 5Day MA must be treated guilty until proven innocent, if looking to open a swing trade. A Higher High above the 5DMA would provide...
After breaking the near-term Accumulation/Distribution Range Ice to the downside, Path of least resistance is a retest of the Previous Accumulation Range Creek (Origin of Breakout) before continuing the Uptrend.
Distribution Range Breakdown 261.8% Measured Move Target @ 94.20
Two Legs Sideways to Down objective met.
05 Mar 2021 to 18 Jan 2022 Big Picture Distribution Range breakdown Black Swan Measured Move 1:1 Target @ 108.75
Short term Double Bottom for a Simple Corrective WXY or Complex WXYXZ before Downtrend Continuation.
