Robinhood Markets (HOOD) on the 4H timeframe is consolidating inside a multi-month Symmetrical Triangle structure following a corrective pull-back from its previous high.
Wave Structure: The chart illustrates a classic 5-wave Elliott Wave triangle consolidation labeled (A)-(B)-(C)-(D)-(E).
Key Reaction Levels: Wave (D) bounced down precisely off the upper descending trendline resistance around $110, setting up a final leg lower.
Target Support Zone: Price is now projected to slide into the Wave (E) landing target near the lower ascending trendline support and 200 EMA region (around $90.00-$94.00).
Wave Structure: The chart illustrates a classic 5-wave Elliott Wave triangle consolidation labeled (A)-(B)-(C)-(D)-(E).
Key Reaction Levels: Wave (D) bounced down precisely off the upper descending trendline resistance around $110, setting up a final leg lower.
Target Support Zone: Price is now projected to slide into the Wave (E) landing target near the lower ascending trendline support and 200 EMA region (around $90.00-$94.00).
Note
Broke out from the triangle. Order cancelled
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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.