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Not a very clear falling wedge so maybe still some down room (until the wedge near the end)?
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Looking at yesterday's down move. The effort to push up in each structure got weaker and weaker until EOD when there was buy to cover. (Opinion only)
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Sharing research and ideas only, this is not trading advice.
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Last leg up pull back to 50%, not bearish until a trade under 38.2% in a bullish view. see last one a pull back were all the way to 38.2% then rebound but only failed back, strong bulls should start buying in this area. daily trend following is waiting for a good reversal to trigger a buy. so...find excuse to buy. internals are also bullish again atm.
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My comments are for entertainment/educational purpose only. NOT a trade advice.
Breakout to the new day high here with a good looking bar in the next couple of bars then it's an uptrend day.
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Swing sell setup triggered. I am not selling today, buy dips and hope this sell will fail, good momentum, if bulls want this, it should be easy today but.....until then.
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My comments are for entertainment/educational purpose only. NOT a trade advice.
The pullback at the magic time means it's just a range day. Now seeking range low which I assume is the day low.
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History need not repeat:
During the last 2 large corrections (dot com/real estate), the fed started reducing interest rates in nov 2000 and aug 2007 (fed funds chart) - average bottom tag was 2 years later and 50%+ more downside following the 1st reduction. One can ballpark how much more we gotta go IF this a similar deal ( March this year start date) - That is the last Coal post for naughty listers. Amidst the gap fill and waiting on bounce for Santa.
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