Markets have been bleeding relatively quickly here over the last few days. Price has recently hit the Weekly level and 1-1 extension from what might be a potential ABC correction. Would be nice to get some relief, potentially reclaiming the Value Area Low of the trend, and then the VWAP will decide if we trade back down, or potentially higher.
We are at some quite important key levels here, losing them would truly expand the range with some room to drop to the downside.
We are at some quite important key levels here, losing them would truly expand the range with some room to drop to the downside.
Note
Coming into the val and 1-1 Note
Would like to see us flip this zone for some strength Note
Current weekly level will be quite important, the question becomes wether or not this weekly can close at or above the weekly price marked on my chart at 5741. This will be my key zone to watch for a potential larger buyer wick
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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.