Locally, price continues bearish after falling out of the wedge, completing wave (B) of the macro triangle. Price action looks ready to reverse
Wave © appears complete after the big drop, black swan event- Oct 10th. I was looking for a dip back into the long lower wick, which we have and price is finding support. This suggests we grind higher from here, but we must get through the daily 200EMA, just above the High Volume Node resistance and daily pivot. This area will be tough to crack and was rejected on the first attempt.
📈 Daily RSI has printed bullish divergence from the oversold threshold- a bottoming signal.
👉 Continued downside has a next target of $114.
Safe trading
Wave © appears complete after the big drop, black swan event- Oct 10th. I was looking for a dip back into the long lower wick, which we have and price is finding support. This suggests we grind higher from here, but we must get through the daily 200EMA, just above the High Volume Node resistance and daily pivot. This area will be tough to crack and was rejected on the first attempt.
📈 Daily RSI has printed bullish divergence from the oversold threshold- a bottoming signal.
👉 Continued downside has a next target of $114.
Safe trading
PhD Cand: Investing & Sentiment , MSc Financial Econ
Trader 8 years, Investor 15 years
The Sentiment Investor - Market Psychology: thesentimentinvestor.substack.com
Trade Planning, Strategies & Signals: Earn & Learn: tradesignals.substack.com
Trader 8 years, Investor 15 years
The Sentiment Investor - Market Psychology: thesentimentinvestor.substack.com
Trade Planning, Strategies & Signals: Earn & Learn: tradesignals.substack.com
Related publications
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.
PhD Cand: Investing & Sentiment , MSc Financial Econ
Trader 8 years, Investor 15 years
The Sentiment Investor - Market Psychology: thesentimentinvestor.substack.com
Trade Planning, Strategies & Signals: Earn & Learn: tradesignals.substack.com
Trader 8 years, Investor 15 years
The Sentiment Investor - Market Psychology: thesentimentinvestor.substack.com
Trade Planning, Strategies & Signals: Earn & Learn: tradesignals.substack.com
Related publications
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.