About meTechnical and momentum swing trader. I follow institutional order flow through options, block trades, and dark pools. Solid TA w/ a touch of Wyckoff and following the money. Think like a crook and trade like an algo.
Falling Wedge (Bullish)
Daily pivot with major and intermediate trend fib confluence. (Major support)
Volatility Buy Signal still intact
Long lower shadows on candle are bullish
Declining sell volume indicates reduced selling pressure
Let's zoom in from my previous chart to this 15min. Now a POTENTIAL bull momo divergence at a major fib level. Good long Risk / Reward.. Next level is the .786 fib and I wouldn't hesitate to go big there, but I'm already in at the lows.
This retracement was expected. Oscillators were flashing overbought. Here's your levels to watch. FT is now starting to bottom on the 4hr,, I would expect the .36 area to hold and set up for a massive new run. I would not be shocked to see a .33 back test to that .786 fib to shake out last of weak hands.