Watch the pattern - new correction to 8400$ imminent

[freightjoe]

Look at the pattern development over the past year - spiking to new high test levels, then a drop before going on to test new levels.

first rise to 3000$ - followed by drop to 2000$

then rise to 5000$ - followed by drop to 3000$

then rise to 7500$ - followed by drop to 5800$

Following the pattern, the test level is 12000$ with a following drop to 8400$

we are now at 12500 - the coming rush downwards will be sharp and fast.

As we saw last time, when this happens transaction times become very long and you lose any opportunity to get out in time (as well as as possible get back in at the lower price level)