All elements are envisioned potential support/resistance zones/forces. My main bias would be for a ping pong between the pink rectangle, the purple curve, the red long plank and an incursion towards the last red, but I am open to other scenarios as well, watching the price action at any of the elements that the market will reach.
The marked price levels can be for both types of scenarios: reversals or just consolidation and a break, while at the other stuff, especially rectangles, I am hoping we will see at least 1 reversal of the previous momentum and sentiment.
Will post updates.
The marked price levels can be for both types of scenarios: reversals or just consolidation and a break, while at the other stuff, especially rectangles, I am hoping we will see at least 1 reversal of the previous momentum and sentiment.
Will post updates.
Note
Low under the purple resistance and will be curious to see if this changes while we approach the intersection of forces where the plank ends, the curve starts, and the blue rectangle potential support/reversal zone sits.Note
Back on top of the plank. Let's see if it finds support here. Maybe with a rebound.Note
This could end up being a retest...Note
Bullish signs at the encounter with the purple curve, but the marked price level needs to be broken to avoid a rebound which could count as a retest that pushes it towards the big blue below.Note
The purple curve phenomenon leaves me without words as I haven't done the math to figure out the mathematical probability for such an event. This curve might not hold in the next trading days, but the bullish tones could still continue, and the price might reach eventually 241 if the buying appetite doesn't diminish drastically. Note
Arrived at the marked price level with some signs of resistance but it could be temporary. Doesn't look that solid (for now) for a potential reversal.Note
Squeezed between the marked price level which acted as resistance and the blue curve which still seems to be providing some signs of support. Not sure if the resistance will be broken, and even in such a scenario, the vertical rectangle is approaching which could shift the tone and mood a little bit, close to earnings report.Note
How is the purple still holding after such dreadful days for stocks? And what happens after the vertical hanging milestone? Can some good earnings report actually make this break the highs? Or will it start descending? I don't see it in the cards for a drop like a hot potato though.Note
Looks like a retest of the purple curve from below with a rebound right at the vertical grey rectangle zone. Unfortunately, as it stands now in this position I can see the price retesting the purple so would rather wait for a potential another bearish candle before considering this as a reversal setup.Note
Revenue reported below estimation and the developments under the purple look like a retest but also might be just a consolidation. Not really confident in the short scenario for now. Waiting for more clues of what is going on in this market...Trade closed: stop reached
fools gold this...
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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.