Higher lows on the price action, lower lows on the RSI. Volatility is building up pressure. Notice how we closed on the bottom of that ascending triangle at the bottom of the bull flag. Not buying yet. LONG volatility. SHORT market.
Note
Price action bouncing off the purple lower trendline. Let's see if this cup and handle formation succeeds. I'm leaning towards a soft bounce then break below. Sellers are backing off in the market. Note
Double-bottom on purple lower trendline support. RSI is forming higher lows. Price action is forming higher lows. MACD is moving toward buy zone. Note
Bullish structure breaking down. I'm sure it'll pop again when it hits the lower channel we've been in for the past couple weeks. For now, I'm content to look at LONG positions again. All my favorite setups from last week look like train wrecks. Back to the drawing board. Happy trading.Note
This trader is sidelined for the moment. Something doesn't look right.Note
That bottom trendline support is disconcerting. I'd like to see us break below it by 1pm ET Thursday, 3/4.
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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.