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Lucid TA @Lucid_TA
, 4 tweets, 2 min read Read on Twitter
Micro update on $ETH, see linked thread for broader explanation of scenario cast. We're still well and truly on track for downside continuation. Doesn't look like we'll get the opportunity for early entry I was looking for at $304, but that's fine.

The scenario pictured is an updated estimation of how a downside continuation setup may occur (see thread linked previously for earlier estimations). This is still purely hypothetical until we see setup confirmation, though structure as yet is beautiful.
We've seen volatility generally dissipate through each successive swing. On top of that, we're seeing an impulsive sell response to a weak uptrend. This is evidenced by the significantly steeper slope of this recent move to the downside vs the upswing that preceded it.
In any case, I'll update further if the setup actually forms. Will mention entries if/when they occur. On the other hand, I'll update if the setup fails to eventuate. As I've mentioned previously, potential for ultra high RR trade here (10+).
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