Hi All,
I saw someone tweet that its time to buy Spotify and something about Joe Rogan.
When people sell off in such a way, its usually to fear.
I think this is a typical selloff after its reached its target and the cycle it to start again, reaccumulation.
The fib and the previous resistance level makes sense to enter and also can be a bear trap as a descending wedge could play out.
I will not mention when to buy but 157 looks like a good level. One might wait to place 2 levels of orders... at 157 and the other, after you see a bounce and a regain of the level as per my price path on the chart.
Also note how RSI on the daily is way down below oversold conditions.
All the best,
S.SAri
I saw someone tweet that its time to buy Spotify and something about Joe Rogan.
When people sell off in such a way, its usually to fear.
I think this is a typical selloff after its reached its target and the cycle it to start again, reaccumulation.
The fib and the previous resistance level makes sense to enter and also can be a bear trap as a descending wedge could play out.
I will not mention when to buy but 157 looks like a good level. One might wait to place 2 levels of orders... at 157 and the other, after you see a bounce and a regain of the level as per my price path on the chart.
Also note how RSI on the daily is way down below oversold conditions.
All the best,
S.SAri
Order cancelled
no bounce to retest that desired level, so no trade.
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Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
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.