ALPHABET ($GOOGL): Does ALPHABET Go All the Way?
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Despite taking a hit on the ad side of the business, Google (GOOG / GOOGL) has had a textbook "V" shaped recovery (Or in this case, an upside down "A" recovery we could say). Can the bulls make the final push back to all time highs? One could argue the new stimulus package will have a positive effect on the markets and give this tech giant room to finish running. So let's map out a potential pathway for the bulls.
Resource: www.cnn.com/2020/05/...te-voting/index.html + www.marketwatch.com/...-2020-04-28-17103010
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1. Fractal Trend is showing an uptrend (Aqua bar color) on the 1 hour timeframe giving us a clear trend to look for a long setup within.
2. With this strategy, we are looking for long setups in an uptrend and as such want to enter long on retests of bullish order blocks plotted by Orderblock Mapping (Aqua) and/or bullish S/R levels plotted by Directional Bias (Aqua).
3. As you can see we had a great long setup entry at S1, sadly this was missed so we can only plan for what may happen now and not worry about the past.
4. The target for this move is up though the "COVID gap" and all the way to the range created by previous highs at R4. This is good news for anyone already long.
5. If we don't see bullish continuation off this move, then there is another potential long at S2 assuming Fractal Trend gives the green light.
6. If Fractal Trend signals a downtrend (Maroon bar color), then any long positions should exit as this is seen as indecision/weakness, otherwise the bet is on GOOGL continuing its recovery.
Like, Comment & Follow to help the community grow 🎉🎉
---
Despite taking a hit on the ad side of the business, Google (GOOG / GOOGL) has had a textbook "V" shaped recovery (Or in this case, an upside down "A" recovery we could say). Can the bulls make the final push back to all time highs? One could argue the new stimulus package will have a positive effect on the markets and give this tech giant room to finish running. So let's map out a potential pathway for the bulls.
Resource: www.cnn.com/2020/05/...te-voting/index.html + www.marketwatch.com/...-2020-04-28-17103010
---
1. Fractal Trend is showing an uptrend (Aqua bar color) on the 1 hour timeframe giving us a clear trend to look for a long setup within.
2. With this strategy, we are looking for long setups in an uptrend and as such want to enter long on retests of bullish order blocks plotted by Orderblock Mapping (Aqua) and/or bullish S/R levels plotted by Directional Bias (Aqua).
3. As you can see we had a great long setup entry at S1, sadly this was missed so we can only plan for what may happen now and not worry about the past.
4. The target for this move is up though the "COVID gap" and all the way to the range created by previous highs at R4. This is good news for anyone already long.
5. If we don't see bullish continuation off this move, then there is another potential long at S2 assuming Fractal Trend gives the green light.
6. If Fractal Trend signals a downtrend (Maroon bar color), then any long positions should exit as this is seen as indecision/weakness, otherwise the bet is on GOOGL continuing its recovery.