Still forming point 16 at the daily scale. If you stopped out at a higher price you might consider re-entering when the 4H move completes (see analysis in chart). If you stayed in you shouldn't have to suffer through too much more downward movement before the larger trend resumes. This current move down is a counter move within our trend, not the larger retracement I'm attempting to avoid...
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Looks like this 4H movement down could end up being a 12 point count instead of the 8 point I anticipated... might mean another day or two of lost ground if that's the case. It's still possible that it's an upward count as well, have to wait to see if that low materializes, that will clue us in...