DELTA - Converging Levels Creates Huge Resistance - Retrace?

Hello Traders!

Whichever Hedge Fund that is responsible for the recent price action in DELTA mustve been in a generous mood... because theyre giving us an excellent hint as to what price will likely do next.

And what hint might that be you ask...
1) Trendline (connecting the recent highs)
2) Gap Fill (Resistance)

Individually these factors are relatively strong, however when combined they essesntially create a strong barrier that will be very hard for price to break through. Think about it like a wall made from Captain Americas shield... now try and break through that.. aint gonna be easy.

So whats next for price? If I was a betting man (and I am, incase you were wondering) I would say theres a high probability that price is going to trade down from this resistance level then retrace to the gap fill below. From the gap fill level we will likely see a bounce.

Thanks, I hope you found this post educational or helpful and best of luck on your trading journey!