This is the last phase of this bull run MSI has been red for last 2 days Market is climbing. This is typical behavior before a correction, stay patient until prices start to go below the trap zone to enter shorts
It is profit booking for sure, there is clearly a Red TrapZone and Red UMVD in place for now. So only shorts are active now for Netflix. TrapZone and UMV combined together are complete automated technical analysis indicator package. You get to clearly see in Realtime the market trend strength and volume confirmation.
I would stay away from TSLA, Its choppy and sideways. I think after this week the market will make its move. It is in fact a Roll over week. Watch for fake breakouts and play safe (small/ Intraday) if you have to.
See the green UMVD which is now turning purple, that means divergence - Now we are below RED TrapZone and if we get RED UMVD now AFTER DIVERGENCE - We will start selling further Down.
Futures seems to have broken the resistance, but is seeing selling at the moment. So I belive we will see and test the Support now.
Watch out for Buying at the tops, that promptly follows with selling. We are going to correct the S&P500 and other indices so be careful if you are long TSLA * UMVD is red and so is Market strength indicator. Prices are stuck under Red TrapZone*
We see Trapped buyes on the way down. Wait for Green TrapZone & Green UMVD for buying opportunities. RIGHT NOW TREND IS DOWN
Price now trapped under the RED TrapZone and UMVD also shows selling in the market. So TREND NOW is lower wait for green TrapZone and green UMVD to signal up moves
As long as Price stays below Red TrapZone we are in downtrend. Watch for Market Trapping buyers every time price pops higher. use UMVD to see this.
Strong Red TrapZone and Red UMVD for Oil futures, We are going down even further.
UMVD picked up Green/ Buyers in GOLD futures around the 29th. Prices have stopped falling and got support here. Lets see when the prices hit the resistance level marked. Watch for Red UMVD at that time
Selling started close to the top and UMVD is showing red for selling pressure. TrapZone is strong and wide so Upward trend may resume. I believe we will poke below the support area before rising higher.
It is normal to see selling after a big run and price goes sideways. IT IS NOT the best Time to ENTER though! What do you think ?
Both Price action analysis by TrapZone Pro and Volume analysis by UMVD points to GREEN ahead
Based on analysis of Price Action and Volume together, we can see that current volume is trending higher while the Price has Red TrapZone formed. Therefore there is NO VALID Trade Bias. Price action analysis is performed by TrapZone Pro. I published a "Volume Only" analysis using the Unusual Market Volume Detector as well to form a contrast. Price action only...
Take Partial Profits as soon as the TrapBars Start Forming. Currently We don't see any TrapBars Forming. The TrapZone Is Green So Wait for Entries back close to The TrapZone, Instead of making a FOMO entry now. Let us know how "TrapZone Pro" Entries look on the Chart ? Remember, they occur in Real Time. Check out the TrapZone Pro Script Page for more Information.
If we continue with Red Bars under the Red TrapZone we will most likely break below 400. Chart with next support levels. Keep Any Eye for Sharp Turn arounds, as NVDA tend to do that !
Bulls Are At It, Offcourse. When do you take Profits though ? Trap Bars are forming Now. price Hasn't Retraced to Green TrapZone for about A week. Retrace Is expected back to Trap Shorts and Shake weak Longs - SOON ! Hourly Candlestick Chart of MCL/ Crude Futures with TrapZone Pro