Looking at the "flash-crash" that occurred on January 3rd, if we move to the 1hr time frame and box it off, that is where "smart money" got in and drove the price down. With this, smart money still has long positions in this area and are in need of mitigating their drawdown before we take back off to the upside. Watch price action in this area and pay attention to what smart money wants to do from here.
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