This ugly price action on the short term makes sense to me now, we are just putting in an ABC towards the 0.5 FIB of our move, before we can try taking off again.
This ABC is actually very visible on a 5min chart, but the wick action we're going through is very extreme and definitely more common in this market full of fear/greed.
Here is the detailed version of that ABC that we could be forming right now:
This ABC is actually very visible on a 5min chart, but the wick action we're going through is very extreme and definitely more common in this market full of fear/greed.
Here is the detailed version of that ABC that we could be forming right now:
