Look at this chart of WBD on the Daily TF.
On the right side of the chart you will see a purple box which marks a pivot point.
Off of that pivot point, there is a Yellow resistance line, where price action was chopping along for some time.
The price action then started creating lower highs and lower lows creating a downward sloping megaphone pattern.
When you see this type of a pattern on towards the lows of the charts this becomes a bullish indicator.
Where you see the yellow line meet with the top of the megaphone pattern is a circle where you can expect resistance.
The resistance is due to the pivot point as well as the top of the megaphone.
If WBD were to hit the target within a couple of days then it would still be valid for a couple day pull back.
Now, if price action chops along the top of the blue line for 6 to 7 days the we can expect a breakout with a potential upside to the $17.00 range.
What do you think will happen?
Let me know in the comments.
Cheers,
On the right side of the chart you will see a purple box which marks a pivot point.
Off of that pivot point, there is a Yellow resistance line, where price action was chopping along for some time.
The price action then started creating lower highs and lower lows creating a downward sloping megaphone pattern.
When you see this type of a pattern on towards the lows of the charts this becomes a bullish indicator.
Where you see the yellow line meet with the top of the megaphone pattern is a circle where you can expect resistance.
The resistance is due to the pivot point as well as the top of the megaphone.
If WBD were to hit the target within a couple of days then it would still be valid for a couple day pull back.
Now, if price action chops along the top of the blue line for 6 to 7 days the we can expect a breakout with a potential upside to the $17.00 range.
What do you think will happen?
Let me know in the comments.
Cheers,
To see my exact trades:
Stocks: inthemoneystocks.com/verified-investing-alerts/
Crypto: verifiedinvesting.com/
Stocks: inthemoneystocks.com/verified-investing-alerts/
Crypto: verifiedinvesting.com/
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
To see my exact trades:
Stocks: inthemoneystocks.com/verified-investing-alerts/
Crypto: verifiedinvesting.com/
Stocks: inthemoneystocks.com/verified-investing-alerts/
Crypto: verifiedinvesting.com/
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。