As you can see, after reaching a new high, the market has pulled back.
I wonder if everyone has taken profits on their spot positions?
We all know the reasons this time, but how far will it pull back?
What we cannot be certain about now is how long this new bearish narrative can last, especially since there is a significant trade agreement mentioned by Trump next week...
So for now, we are looking at fluctuations between 102k and 112k.
The distribution of bullish liquidity above 102k is not very abundant; even if the pullback continues over the weekend, the ideal target is limited to 103k;
The problem is that James still holds a long position worth $1 billion, and what remains unclear is if the market truly wants to target him for liquidation, then his stop-loss or liquidation (104800) could trigger a chain reaction...
In short, if it drops to 103k, it would be a standard "new high significant pullback," with subsequent fluctuations still under a bullish backdrop, and absolutely do not touch below 102k, as there is plenty of bullish fuel below this level...
If there are any other changes in the market, the small circle will notify you immediately.
