On Friday our minor 3170 target has been hit - its intermediary one on the way to major 2900 point. This target is based on two butterflies - 4H 1.27 one and 1H 1.618 that you see on the chart. Also AB=CD target has been completed. Now market is forming something that reminds H&S shape. It means that we could get at least AB-CD pullback to ~3320 area. Although we still keep bearish sentiment and mostly treat this pullback as the chance to step in on bearish side again - we should get '222" Sell by this retracement. Long position is not forbidden until "C" point is valid. Otherwise, it will be H&S failure and market will continue downside action.
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