ARKM SETUP AND INVALIDATIONS
After close to a 50% Fall from the June's high, We can clearly see a decent retracement brewing on ARKM.
This births certain question, such as
1. What's the overall trend?
2. What's the current market sentiment saying?
3. Are there corresponding patterns to the market sentiment and a host of other questions.
That brings me to my Analysis.
As we witnessed accumulation all through the month of May, Finally a breakdown in June and a retracement to the accumulation zone now heating up.
The overall sentiment of this chart for me remains bearish, as the market approaches a S/R flip zone. I'd therefore be taking a short trade at the set trigger on the chart.
Invalidation is also marked out.
#Tradesafely #Applyrisk
This births certain question, such as
1. What's the overall trend?
2. What's the current market sentiment saying?
3. Are there corresponding patterns to the market sentiment and a host of other questions.
That brings me to my Analysis.
As we witnessed accumulation all through the month of May, Finally a breakdown in June and a retracement to the accumulation zone now heating up.
The overall sentiment of this chart for me remains bearish, as the market approaches a S/R flip zone. I'd therefore be taking a short trade at the set trigger on the chart.
Invalidation is also marked out.
#Tradesafely #Applyrisk
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.