NQ1 Potential "Turn or Burn" point on the Hourly inbound

If this ABCD plays out in this manner on the Hourly....the D Leg will put us around the 12800 level. Lots of things to watch for here.....mainly the fact it is the concrete floor support of the over Year-Long primary uptrend channel. We either turn at or around here.....or we burn hard down to 12k or below possibly. IF we hit it and maintain support there.....im loading up the wagon for the run back to the Blue Line.. That being said.....IMO it's a BIG IF. For now....Im taking a long-biased neutral stance at that level with a core short still running from last ATH. The moment it seems the support is failing....Ill load up the wagon for the base jump instead. ;)

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I closed all but a small position on the long at just under 13400. Original target for a pop for intraday was at 13300.....still not sold on it being a long term rise yet.