Always respect the direction of breakouts, even if you don't believe it.
Wait and see kind of situation here. We achieved previous goal, will it give us again?. Time will tell!
This is a classic 2-legged pullback to EMA set up for GOOG. Should work measured move up and close the gap at around 735-740 area soon
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I am looking for leg c to go for long position. if $GOOG being rejected on Mid Pitfork, then potentially $GOOG will develop Bullish Gartley formation.
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Bounced from 18ema still weak and target price 670 is achievable. Now, stop loss 695
As we can see, GOOG is tightly locked in bearish channel on weekly chart. If we project the first leg move in a channel down, we can see that the measured move target is pointing to 570 area - right where the major support is. Is it just a coincidence? I doubt
This reversal bar from yesterday is not looking good for GOOG at all. First of all, it's very close to major bear trend line which has not been broken yet. Secondly, the major resistance around 713 seems still to be in place. Thirdly, the measured move target after October crash is not reached yet. Short off 691 should be a good trade to get into for the new...
Friday, initiated BPS closed today the short leg creating higher risk exposure. Still 706 is area that needs a careful monitoring
GOOG is at an important point on an hourly chart.
GOOG looking to kiss the 99 period M.A.
GOOG looks good for a longer term trade: - lower trend line support - support of 0.764 fib level at ~ $650 - support at ~ $550 - stochastics setting up for a move upward - 200 EMA suport ~ $565 False break out above all time high recently has set us up nicely. Wait for a good entry point as this trade may need a little longer to set up properly. Note that this...
GOOG needs more evidence to prove a reversal is in order.