1. Parabolic sell-off
2. Buyer exhaustion/hard bounce (forms a key swing point).
3. Failure to to make higher high. Strong down move breaks support.
4. Price returns to key swing point, small corrective structure forms.
5. Price breaks to the upside
6. Hits resistance.
Places I am looking to buy:
-Pre-breakout if conditions look favorable. (defined area, price squeeze, MA price carry--probably best seen on a 4h or 1h chart).
-Post-breakout pullback to ~9750
-7500 if price fails at resistance and retests support. I'm less excited about pullbacks to 8000 and 8400 in this instance even though those are the most likely pullbacks locations.
2. Buyer exhaustion/hard bounce (forms a key swing point).
3. Failure to to make higher high. Strong down move breaks support.
4. Price returns to key swing point, small corrective structure forms.
5. Price breaks to the upside
6. Hits resistance.
Places I am looking to buy:
-Pre-breakout if conditions look favorable. (defined area, price squeeze, MA price carry--probably best seen on a 4h or 1h chart).
-Post-breakout pullback to ~9750
-7500 if price fails at resistance and retests support. I'm less excited about pullbacks to 8000 and 8400 in this instance even though those are the most likely pullbacks locations.
Note
* 2. seller exhaustion
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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.