Let’s review how this daily-chart downswing got started:
In late September, I started preparing for the possibility of a major trend reversal;
On October 2, during a livestream, the 6H swing was topping out, and I started entering;
On October 5, during a livestream, a divergence on the 4H swing signaled a top, and I entered a second time;
On the morning of October 7, with everything in place and just waiting for a catalyst, a small 1H short-term topping structure kicked off this downtrend;
For now, the daily trend reversal looks confirmed. There’s still more downside ahead—or at the very least, the correction is far from over. We’re talking months, at a minimum, possibly several months;
Only then will we see the true bear-market bottom. Whether price can break below the June low remains to be seen; we can simply let the market decide.
In late September, I started preparing for the possibility of a major trend reversal;
On October 2, during a livestream, the 6H swing was topping out, and I started entering;
On October 5, during a livestream, a divergence on the 4H swing signaled a top, and I entered a second time;
On the morning of October 7, with everything in place and just waiting for a catalyst, a small 1H short-term topping structure kicked off this downtrend;
For now, the daily trend reversal looks confirmed. There’s still more downside ahead—or at the very least, the correction is far from over. We’re talking months, at a minimum, possibly several months;
Only then will we see the true bear-market bottom. Whether price can break below the June low remains to be seen; we can simply let the market decide.
