On the daily timeframe, STRK was in a bearish trend. Then, it started forming the Wyckoff accumulation pattern, which included a bearish candle with a long wick, marked on the graph as SC for Selling Climax. Then, we had the AR for Automatic Reaction, followed by the ST for Secondary Test, UT for Upthrust, and another STB for Secondary Test in Phase B.
Currently, I'm waiting for the retest that aligns with an inverse head and shoulders pattern in the 4-hour timeframe. Additionally, it aligns with a Fibonnaci's zone of interest.
Note
Disclaimer, these ideas are for my records of what I see in the market after taking a trade. It will help me document the reason of why I took the trade so I can have a track record. And as such, this is not a financial advice.Note
Note to Entry: It appears price is retracing to the marked area (possible).Note
Price has slowed down, I think it will reach my level.
Note
It reached my level, but it took time.
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.