GOOGL
$GOOGL | WEEKLY WATCHLIST 9/13Watching the $2770 region as a prime spot for a relief bounce to buy the dip. Long term bullish channel that has controlled Google's price action since late 2020. Closed under the channel median on Friday, hinting at further weakness to come. News about potential violation of labor laws on Friday caused them to sell hard. Neutral-biased until we can reach strong support.
GOOGL daily Elliott wave countAs we can see on chart googl now in ext 5 so let turn on target on indicator,
If you don't know how to target wave 5 here is some education
Price had reached target 3 of ext 3 target and target 1 of ext 5 target, so it can be end of wave 5 or if it continues break the high 3222 is the next key area
If price fall after making ext 5 correction will be sharp so we need to very careful
$GOOGL | TRADE IDEAAnother prime short contender that can see nice downside potential IF market weakness accelerates. Simple longterm bullish channel that has held since last year. Notice every time we reach the red region, we see some sort of pullback either back to the median (white line) or support (green line). I have a small short position as a hedge to the overall bull market. Play cautiously and good luck out there!
Googl Short IdeaEarlier we have seen a very good uptrend from the bullish rectangle forming a rising wedge pattern.
Stay long as long as price stays inside the channel.
Short on breakdown from channel for the given targets.
Also target areas can act as support and be possible reversal zones. Follow future price action.
Target = Blue horizontal ray
Green arrow = Long idea
Red arrow = Short Idea.
Kindly do your own research and enter. Also if we see consolidation in the next few days below the channel then we have to update the pattern.