MSFT
A lot going on here I’m watching...
1) ABC up (green) appears to be near completion with impulse wave c near/at a lot of key levels. This would suggest potential reversal.
2) Currently between 618 and 786 retrace levels of overall market drop, suggesting ABC up is near complete.
3) Currently sitting in an important supply level, suggesting potential opportunity to short especially with a completion of the ABC. HOWEVER, the yellow 175 is the top of the previous wave B of the initial ABC market down. If price were to push past this level then...
i) this suggests potential continuation higher as in a regular correction, once price pushes past prior wave B down it can be a signal for an entry LONG.
Sorry a little long, but just my thoughts and opinion. I’m currently just watching price action with no positions entered yet.
1) ABC up (green) appears to be near completion with impulse wave c near/at a lot of key levels. This would suggest potential reversal.
2) Currently between 618 and 786 retrace levels of overall market drop, suggesting ABC up is near complete.
3) Currently sitting in an important supply level, suggesting potential opportunity to short especially with a completion of the ABC. HOWEVER, the yellow 175 is the top of the previous wave B of the initial ABC market down. If price were to push past this level then...
i) this suggests potential continuation higher as in a regular correction, once price pushes past prior wave B down it can be a signal for an entry LONG.
Sorry a little long, but just my thoughts and opinion. I’m currently just watching price action with no positions entered yet.
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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.