Well I am typically bullish on SPOT I do believe market wind correction is on the way in Spotify will not be exempt. Price appears to have reached a couple different points of resistance and it is likely that price will retreat to the central 1/1 Gann angle on the chart.
Also, many other signals I typically look for are present - bearish div on multiple time frames, 3rd wave matches oscillator peak, price touch at fib level with high probability of reversal. Cautiously bearish for now.
Counter: The shape of the move resembles a flag and the 2.618 fib is not entirely out of play yet for buyers...
Also, many other signals I typically look for are present - bearish div on multiple time frames, 3rd wave matches oscillator peak, price touch at fib level with high probability of reversal. Cautiously bearish for now.
Counter: The shape of the move resembles a flag and the 2.618 fib is not entirely out of play yet for buyers...
Trade active:
Went for the 2.618 - didn't quite hit - then sold off into negative territory for the day
Trade closed manually:
Target hit. The selling may accelerate here but gonna sit our and wait for a significant bounce