Keep an eye on today's close, we just finished a H&S pattern.
If you looked at my previous chart, I did indicate buying a day ago around 730 isn't a terrible decision.
If you happened to buy, I wouldn't be in total fear, hopefully you just scaled in small if you believed in my chart.
I did give a bearish case too and acknowledged a drop below 700, but I really did not expect 650 breaking and it briefly did.
For some reason it feels like my previous chart was viewed by a bunch of whales and they decided to attack my idea lol.
I hate when that happens and it hesitates me from posting charts online.
Anyway, we really need support right now and it may be developing.
A green hammer is developing right now which could indicate a reversal. It would all depend on closing price however.
Hopefully we close above my teal parabolic structure, and at minimum we do not break the purple parabola.
Definitely be careful as well here.
Buying here is buying a bit too early since there are no confirmations.
This could also be a dead cat bounce.
You could wait for a close but I'd scale in small right now.
The only thing that really scares me is the volume on the daily since February 8.
If you looked at my previous chart, I did indicate buying a day ago around 730 isn't a terrible decision.
If you happened to buy, I wouldn't be in total fear, hopefully you just scaled in small if you believed in my chart.
I did give a bearish case too and acknowledged a drop below 700, but I really did not expect 650 breaking and it briefly did.
For some reason it feels like my previous chart was viewed by a bunch of whales and they decided to attack my idea lol.
I hate when that happens and it hesitates me from posting charts online.
Anyway, we really need support right now and it may be developing.
A green hammer is developing right now which could indicate a reversal. It would all depend on closing price however.
Hopefully we close above my teal parabolic structure, and at minimum we do not break the purple parabola.
Definitely be careful as well here.
Buying here is buying a bit too early since there are no confirmations.
This could also be a dead cat bounce.
You could wait for a close but I'd scale in small right now.
The only thing that really scares me is the volume on the daily since February 8.
Note
As always, not financial advice, you can agree or disagree with me. I have not been totally wrong so far, but not totally correct either. if we get to see 700 today then we're above my teal parabola, but we'd need more than that to rule out a dead cat bounce.
If we actually close above 740, I would personally rule out a dead cat bounce and call it a recover, but I may be asking too much if I want 740.
Good luck to you all.
Note
Karonte, my chart, my rules.If you check my history I haven't been 100% correct, but my ideas have been on the right track.
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.
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.