Look at this chart of WBD on the Daily TF.
On the right side of the chart you will see a purple box which marks a pivot point.
Off of that pivot point, there is a Yellow resistance line, where price action was chopping along for some time.
The price action then started creating lower highs and lower lows creating a downward sloping megaphone pattern.
When you...
Take a look at this beautiful chart.
We are looking at the BABA chart on the Daily TF.
Let's start out at the bottom of this chart where you can see the first measured move (purple measurement), which moved 36.30 points.
Then, notice that the second measured move (blue measurement), if we extend it up to 36.30 points, it takes you up to the yellow line.
The...
What we are looking at here is TDOC on the Daily TF.
Draw your attention to down sloping trendline (Yellow). You will notice that the yellow trend line is acting as resistance and the price action has hit this line a couple of different times.
The price action from today (1/9/2023) helped solidify the downward sloping trendline and showed us that the resistance...
