1. Strong & sharp move from 28/5 - 7/6 (flagpole)
2. Group of prices that are cleanly bounded by a pair of converging trendlines
3. This consolidation pattern typically suggests a continuation of the trend. Allowing a security to take a breath before moving in its dominant direction
4. Buying action less intense, volume decrease
5. Wait for price to breaks out of the pattern with volume spike
Reference : High-Probability Trade Setups - Timothy Knight
2. Group of prices that are cleanly bounded by a pair of converging trendlines
3. This consolidation pattern typically suggests a continuation of the trend. Allowing a security to take a breath before moving in its dominant direction
4. Buying action less intense, volume decrease
5. Wait for price to breaks out of the pattern with volume spike
Reference : High-Probability Trade Setups - Timothy Knight
Note
Currently at resistance zone but, candle 7-8/6 have a long lower shadow. Bulls absorb selling pressure at high price (resistance zone)Note
NVIDIA shares are trading higher after Jefferies (Mark Lipacis) maintained a buy rating on the stock and raised its price target from $740 to $854. I closed my position.marketwatch.com/story/nvidia-price-target-boosted-to-street-high-of-854-at-jefferies-2021-06-17?mod=mw_quote_news
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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.