I got this idea from Bullbearish (see related idea). Saw these longer term lines just now. Seems we're currently still holding support but if this breaks it will likely not be pretty.
Note
Not sure if I'm even drawing them correctly though, but maybe something worth considering.Note
Reaction seems strong and until this highlighted range is broken to the downside I expect further upside because it looks like a perfect way to trap shortsNote
Buyers seem strong still, CVD seems bullish, support holds pretty well, and it looks like many people are trying to short this. The only thing I'm not too fond of is the general shape of the patternNote
Had actually drawn it a little bit cleaner:Note
Second time we hit the parabola support now, it rebounded ... will we go up for now?Note
We're back again, currently on/just below the support. Doesn't look too good right now, waiting for some closes below on larger timeframes or a potential bounceNote
Still proving useful, as you can see
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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.