Zones of influence for potential support and or resistance forces. Especially looking for potential inflection points at any of the rectangles or breaks of the zones especially after they end.
Will provide updates with potential candlestick formation setups but overall the market in sync with the zones should provide through the price action the signs and tools the traders should look out for.
The "matrix" is designed in such a way to eliminate potential bias, regardless of the big gray rectangle lurking above, in order to encourage an open mind regarding what can happen while also providing elements to help navigate more easily potential future scenarios in the analysis process.
Will provide updates with potential candlestick formation setups but overall the market in sync with the zones should provide through the price action the signs and tools the traders should look out for.
The "matrix" is designed in such a way to eliminate potential bias, regardless of the big gray rectangle lurking above, in order to encourage an open mind regarding what can happen while also providing elements to help navigate more easily potential future scenarios in the analysis process.
Note
Pink zone did the job with another rebound but lets see if this bullish mood holds, or at least consolidates towards the purple, considering the fact that the pink zone is over...Note
Purple zone reached and while the resistance met above should raise questions about a potential reversal, I am inclined to pick the red rectangle destination scenario for the next possible step. Bearish signs in this purple zone should be carefully monitored though. Note
Marvel tanked in the span of 2 days. The prospect of a red zone visit is still viable, needs a reversal pattern first, preferably something with a candlestick shadow hanging below. Other scenarios I would look out for are potential support signs at the blue zone if it gets there, or the same for the yellow. Note
Was waiting for the follow up candle after seeing the candlestick yesterday with the long shadow right at the blue zone. So far it hasn't flirted with that low and although it doesn't look like an ideal setup after the recent drop, it still an interesting positional situation. I am hoping at least one rectangle to be hit in this project. The red and yellow bonanza would be too much.Note
My worst fears didn't materialize. I was thinking we might get to see a rebound from the red and then one from the yellow. Not the only question left is if the bottom edge of the blue holds. No additional zones to be added for now for Marvel.Note
This second bearish day could trigger an incursion into the yellowTrade closed: target reached
what a marvel. big zone reached after an interesting pivot at the h.(y)[ell/ow]
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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.