For two consecutive nights, there was a violent surge before the US market (last night's surge was more misleading because US stocks rose sharply, leading many to believe it was a real increase). After the market opened, there was a rapid crash 1-3 hours later, creating new lows. This kind of violent washout is very cruel, as it first retraces upwards at a nearly 1:1 ratio based on the previous day's drop, and then quickly gives back all the gains from the violent rebound at a ratio of 1.168, creating a new low. The traces of artificial control in this trend are very obvious. If one trades long or short based on the usual nearby stop-loss method, they would be stopped out. Only those who can hold their short positions when prices are high can succeed in this kind of market. Generally, in such situations where prices fluctuate wildly, the manipulators aim to maximize confusion, and when the inexperienced traders are lost without direction, they inadvertently brew up greater pain.

CTMD, the drop last night was a bit late, which caused me to sleep at three or four o'clock.