Weekly chart
this is for those of you who appreciate abstract art, directly coming from Pablito Picasso.
1. ABC down, current C is 61% fib from first leg.
2. Bunch of confluences here
- High volume area, would be better if price closed above it though and within the upward channel
- RSI on a wedge going from the previous lows we had at end of 2023. (This makes me think we are expecting a strooong break)
- 2 parallel channels, downward and upward. If you are able to see the upward one, we broke it which could have helped the selloff and is what worries me, along with being below the heaviest volume shelf we need to recover this quick this month to continue our hypothesis. The downward channel can act as a support, which is same channel price broke up in 2023 and will now test it at $103. If it holds we can be up to the races to $185.
- Still need a good week to turn that MACD.
Will throw my dice on for that recovery this month after the huge earnings selloff!
this is for those of you who appreciate abstract art, directly coming from Pablito Picasso.
1. ABC down, current C is 61% fib from first leg.
2. Bunch of confluences here
- High volume area, would be better if price closed above it though and within the upward channel
- RSI on a wedge going from the previous lows we had at end of 2023. (This makes me think we are expecting a strooong break)
- 2 parallel channels, downward and upward. If you are able to see the upward one, we broke it which could have helped the selloff and is what worries me, along with being below the heaviest volume shelf we need to recover this quick this month to continue our hypothesis. The downward channel can act as a support, which is same channel price broke up in 2023 and will now test it at $103. If it holds we can be up to the races to $185.
- Still need a good week to turn that MACD.
Will throw my dice on for that recovery this month after the huge earnings selloff!
Trade active
hammer right at thew 100% length of wave A.Solid formation at $100.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.