$SQ SQ SQUARE BLOCK - EXTREMELY OVERSOLD & FALLING WEDGE
SQ very oversold
RSI reading below 20
Last time it was THIS low, it pumped from ~$102-$130 before making dumping to make a local bottom (drop to ~$85 and then another pamp to $145).
Some quick fast nice profits.
Anticipating it should mimick similar and pamp to at least $49-$59 from this area before dropping lower.
Patterns tend to repeat and mimick, historically.
Will update with EW count and fibs
RSI reading below 20
Last time it was THIS low, it pumped from ~$102-$130 before making dumping to make a local bottom (drop to ~$85 and then another pamp to $145).
Some quick fast nice profits.
Anticipating it should mimick similar and pamp to at least $49-$59 from this area before dropping lower.
Patterns tend to repeat and mimick, historically.
Will update with EW count and fibs
Comentário:
Might be setting up for some really GREAT trading.
VOLATILITY = OPPORTUNITY
VOLATILITY = OPPORTUNITY
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Gaps getting killed, I mean filled
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Key Levels of Support, usually lead to nice bounces
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My Personal target is 99$-$135 area, depends on how the markets move
good to keep an eye on XLF as well
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Potential structure forming to complete the move down
looking for that iii-iv-v,3-4-5 type of movement.
IF this happens, could take a while to complete creating many opportunities to trade, bank profits and build a lower-cost position via DCA
looking for that iii-iv-v,3-4-5 type of movement.
IF this happens, could take a while to complete creating many opportunities to trade, bank profits and build a lower-cost position via DCA
Comentário:
BULLISH divergence forming.
I have to favor local bottom is close but can take some time to form similar to past shown here. Often, bottoms are formed through 'accumulation' where large buyers take large positions and trade it back and forth near the lows to build larger positions at lower cost and once they're done, its go time, especially after a breakout. SO if you can strategize by trading back and forth, you may be able to build a larger position too
I have to favor local bottom is close but can take some time to form similar to past shown here. Often, bottoms are formed through 'accumulation' where large buyers take large positions and trade it back and forth near the lows to build larger positions at lower cost and once they're done, its go time, especially after a breakout. SO if you can strategize by trading back and forth, you may be able to build a larger position too
Comentário:
GREAT bounce
Take some profits and use it to build a larger position when we re-low
Take some profits and use it to build a larger position when we re-low
Comentário:
Square doing beautiful things
if retraces past 0.5 fib, call the square a bottom and label the iii a v
I do favor another leg lower (would look like a GREAT wyckoff accumulation pattern)
if retraces past 0.5 fib, call the square a bottom and label the iii a v
I do favor another leg lower (would look like a GREAT wyckoff accumulation pattern)
Comentário:
its worth taking note that SQ can easily stay within this zone for long time before starting new bull trend.
school.stockcha...b/exe/fetch.php?media=mark...
Extremely oversold