I've seen a lot of IPO's that almost immidiately halve in price after the IPO, then promptly put a nice W in and then turn back up.. so Im making a prediction that something like that will happen here. Very curious to see what happens.
I've taken a previous range that looks like a potential fractal, and mirrored and flipped one, and just mirrored the other.. both would play off the current bear trend line, one bullish and retesting, and one bearish and retesting. The bearish play lines up with long term bullish location The bullish play will allow early long plays
Three reasons for this trade are as follows: 1. Location We are in a reload short zone, at 61.8 - 78.6 fibbonaci retracement levels 2. Divergance We have an MacD divergance on the hourly chart, inside the reload zone.. showing that momentum is slowing down 3. Price structure We have put an "M" top in market structure and confirmed it by breaking the middle...
Just closed my long position and going short.. Short term hourly trade.. tight stops, and tight profit taking windows.. Trade your setups :D
1. Horizontal S & R, Trend Lines 2. RI's MA's 3. Gaps outlined 4. Volume Profile (Session & Visible) if available 5. 50% levels, Gann Angles 6. Gann Squares and Arcs 7. Point & Figure Charting 8. Futures spreads 9. Commitment of Traders (CoT) Report data 10. Building & running TradingView Algo Scripts
i like this bot setup..it's playing around the 25% level now and if it pops up, next target is the top of the BOT