Lots of these ideas already mentioned....and one I've not seen.
We have the Right shoulder of the large Inverse head and shoulders pattern.
Magic poop cannons long term green trend line.
We've bounced multiple times today off of .236 Fib, of the 6000 low, and recent 11780 highs.
We have a potential 5th wave to start.
And as you can see, a nice bull pennant is forming between the low, the Inverse H&S neckline, and the long term green trending which is quite tight with the .236 fib.
Even though the volume has generally been abysmal, the market makes have played between these two levels all day.
IMO it's worth entering a swing trade here, with pretty tight stop, and a pretty good risk reward. That's your decision and your call.
Targets still to be thought about, with obvious resistance above. 55 day, 200 day, and previous support levels.
Magic poop cannons long term green trend line.
We've bounced multiple times today off of .236 Fib, of the 6000 low, and recent 11780 highs.
We have a potential 5th wave to start.
And as you can see, a nice bull pennant is forming between the low, the Inverse H&S neckline, and the long term green trending which is quite tight with the .236 fib.
Even though the volume has generally been abysmal, the market makes have played between these two levels all day.
IMO it's worth entering a swing trade here, with pretty tight stop, and a pretty good risk reward. That's your decision and your call.
Targets still to be thought about, with obvious resistance above. 55 day, 200 day, and previous support levels.
Note
Top of flag should be a bit lower.....
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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.