$XPL
Demand zone tapped, with a decent looking bottom structure - low could be in.
However, as it is unmitigated - there is still room to tag the 50% level. i.e. one more lower low to rinse those who positioned yesterday and have stops below the relative equal lows.
Depends how evil the MM is feeling I guess.
IF we rinse said lows into one more LL and reclaim, would look for swing longs targeting ATH
For transparency, I have a position here. Willing to risk 1R that the bottom *is* in and we put in a higher low here.
The rinse of the lows (and my stops) would provide an opportunity to position again for the swing.
Overall -2R at risk if that unfolds, for a gain of anywhere between 5-7R.
Worth it.
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