Weekly analysis:
- Nice climatic selloff insanely huge volume on earnings day
- Really good bullish volume at support around 75 (this volume is only 3 days in for this week)
- Support at 75 is quite strong (many touches at key levels)
- Weekly is still considered on a uptrend
Daily analysis:
- Nice void above, not much resistance to 2R
- Spinning top followed by a hammer like candle. Both with decent volume (about double the average)
- Hammer like candle also gapped up on open. Shows bullish commitment in terms of price
Intraday analysis:
- Two higher low
- EMA sloping up
Cons:
- Candle is not a real true hammer as the body is about half of the candle size.
- Candle is red. Preferably we want a green hammer as it has a higher strength.
The reason why I still proceeded was because the hammer gapped up on open which sort of make up for the bearish pseudo hammer
- Nice climatic selloff insanely huge volume on earnings day
- Really good bullish volume at support around 75 (this volume is only 3 days in for this week)
- Support at 75 is quite strong (many touches at key levels)
- Weekly is still considered on a uptrend
Daily analysis:
- Nice void above, not much resistance to 2R
- Spinning top followed by a hammer like candle. Both with decent volume (about double the average)
- Hammer like candle also gapped up on open. Shows bullish commitment in terms of price
Intraday analysis:
- Two higher low
- EMA sloping up
Cons:
- Candle is not a real true hammer as the body is about half of the candle size.
- Candle is red. Preferably we want a green hammer as it has a higher strength.
The reason why I still proceeded was because the hammer gapped up on open which sort of make up for the bearish pseudo hammer
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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.