ARB This market action is textbook-style distribution by gradual dumping: the price can’t even get back above the moving averages, and in four hours it smashed out five bearish candles. All the moving averages are pressing downward. This kind of setup is a trend, not a shakeout. Intraday bounces didn’t even touch the order-book/offer-side choke point; the bearish chain has been locked from the hourly timeframe all the way to the daily chart. This isn’t a case of “mistaken slaughter”—it’s simply nobody wants it. When it rises, it’s all smiles; when it falls, it’s all profanity. As for this bounce, I’d advise you not to even think about it.