Bullish Thesis & Technical Theory
Higher-Low Trend Line Support:
The most compelling argument for a bullish reversal is the long-term ascending trend line. Price has pulled back sharply and is currently testing this exact structural boundary. This trend line has acted as a multi-month launching pad for buyers.
Potential Hammer / Rejection Candle:
Following a aggressive sell-off, today's price action shows a sharp intraday dip below the key psychological and structural support zone, followed by a strong buyers' defense that attempts to push prices back up off the lows. This forms a classic hammer-style lower wick, indicating that sellers are losing momentum and buyers are absorbing supply at support.
Coiling / Inside-Day Consolidation:
After intense downside volatility, the daily candles are beginning to contract. This coiling behavior right on major trend line support frequently precedes a volatility expansion, suggesting that if buyers can defend this level, a sharp relief rally or continuation back toward prior swing highs is favored.
Higher-Low Trend Line Support:
The most compelling argument for a bullish reversal is the long-term ascending trend line. Price has pulled back sharply and is currently testing this exact structural boundary. This trend line has acted as a multi-month launching pad for buyers.
Potential Hammer / Rejection Candle:
Following a aggressive sell-off, today's price action shows a sharp intraday dip below the key psychological and structural support zone, followed by a strong buyers' defense that attempts to push prices back up off the lows. This forms a classic hammer-style lower wick, indicating that sellers are losing momentum and buyers are absorbing supply at support.
Coiling / Inside-Day Consolidation:
After intense downside volatility, the daily candles are beginning to contract. This coiling behavior right on major trend line support frequently precedes a volatility expansion, suggesting that if buyers can defend this level, a sharp relief rally or continuation back toward prior swing highs is favored.
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August Calls - got stopped out.
Holding Jan 2028 Leaps
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.