$ARPA looks bearish..
Updated
Really nice rally, however, we have several reasons to be cautious/bearish here/
I could be wrong and a short squeeze could ensue.. but odds are it may be an exhausted rally and due for a correction.
- High Time Frame Resistance
- 0.618 Log Fib Level
- Large rally with little consolidation along the way
- Uptrend Channel Broken to Downside.
- Bearish Divergence
- Head and shoulders pattern forming.
I could be wrong and a short squeeze could ensue.. but odds are it may be an exhausted rally and due for a correction.
Note
Shorts Squeezed to top of channel..Looks head-and-shouldersy to me.. / distrubution-like..
Wait for confirmation of loss of range before getting short imo.. risky one.. OI is negative which usually means it's a crowded trade and market makers love to liquidate shorts
Note
Looking a lot better now... Range low being tested..Note
Note
That short squeeze last night was NASTY. Now we have breached the range low and nuked. This market is fun. Lessons here: When OI is extremely negative, you cannot be short with confidence early on. You are best to wait for short squeezes to play out. A tale as old as time.
*Not Financial Advice*
*Only Risk What You Can Afford To Lose*
*Just Ideas, Not Investment Advice*
*Trade At Your Own Risk*
*Only Risk What You Can Afford To Lose*
*Just Ideas, Not Investment Advice*
*Trade At Your Own Risk*
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