Thomas Reed 94
New member
- Joined
- Sep 29, 2026
- Messages
- 4
Seeing every chartist and wave theorist on my feed calling for an aggressive long on the FTSE back up to 10600. The narrative is everywhere today: it tapped the 10400 support zone, bounced off the channel floor, so load the boat, right? Ngl guys, I feel like I am taking crazy pills watching people rush to buy this dip.
Since when does tapping the bottom of a daily down channel scream reversal instead of just a standard bear flag? We have been making lower highs since July, and calling an impulsive wave to 10600 off a weak technical bounce feels like pure cope. Every time Elliott Wave guys promise a clean rotation to resistance, retail gets lured into longing exit liquidity while smart money just reloads their shorts. The macro picture is sluggish and there is zero follow-through volume behind this push.
I just don't see why anyone would fomo into a long here when the broader trend is clearly tilted south. It looks way more like a dead cat bounce setting up the next leg down than any genuine bottom.
Are you actually holding longs here, or are you looking to fade this bounce into resistance?
Since when does tapping the bottom of a daily down channel scream reversal instead of just a standard bear flag? We have been making lower highs since July, and calling an impulsive wave to 10600 off a weak technical bounce feels like pure cope. Every time Elliott Wave guys promise a clean rotation to resistance, retail gets lured into longing exit liquidity while smart money just reloads their shorts. The macro picture is sluggish and there is zero follow-through volume behind this push.
I just don't see why anyone would fomo into a long here when the broader trend is clearly tilted south. It looks way more like a dead cat bounce setting up the next leg down than any genuine bottom.
Are you actually holding longs here, or are you looking to fade this bounce into resistance?
