BUY/LONG ZONE (GREEN): $12.35 - $14.20 DO NOT TRADE/DNT ZONE (WHITE): $11.75 - $12.35 SELL/SHORT ZONE (RED): $10.20 - $11.75
WEEKLY: Bullish DAILY: Bullish 4H: Bullish
Bit messy today but hoping this provides more insight and support into how I've been following price movement. Labeled previous bullish trends letters A-E. Labeled previous bearish trends letters F-I. Previous bullish trend and bearish trend beginnings are labeled with arrows. Last week we saw price go from a DNT zone into a bullish trend on the weekly timeframes after breaking above level $11.75 and zone top level $12.35. Currently seeing rejection of level $12.80 down to the previous zone (top level $12.35; bottom level $12.20). Despite the test and the two red days the bullish trend is still holding, but it should be noted the 4H has wicked into a new low.
This is what I would personally look at before entering trades, everything is subject to change on a daily basis and as I analyze different timeframes and ideas. ENTERTAINMENT PURPOSES ONLY, NOT FINANCIAL ADVICE!
Trade closed: target reached
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NYSE:RKT broke above the top of the bullish zone at $14.20. I will be looking into creating a new analysis as price continues to move and create new structure.