Long term volume profile sets MU at a pack to shoot up towards almost 60.00. With the baseline of~51.00-52.85. We have held this price. If people buy in early today, we could see something amazing.
Every line from before will most likely still be in play. I think the opening bell will determine what happens here. Will they sell down or buy up? From there i think the market will follow that direction.
It looked so bad, but its held its price around 52.84 instead of ending yesterday around the yellow line at 51.62 (under big resistance)
I have stuff I promised to do today. I will not be away from my computer on a trading day again. So this will not happen again. A rare situation. I am sorry for this.
What i expect o happen. Buy up to 52.98. Bounce ontop of 52.81. Rise to 54.14-55.00. Drop to 53.83. Rise to 58.25. Drop to 57.10-57.29
Then I believe it will have a real fight again of actual bulls vs bears.
Every line from before will most likely still be in play. I think the opening bell will determine what happens here. Will they sell down or buy up? From there i think the market will follow that direction.
It looked so bad, but its held its price around 52.84 instead of ending yesterday around the yellow line at 51.62 (under big resistance)
I have stuff I promised to do today. I will not be away from my computer on a trading day again. So this will not happen again. A rare situation. I am sorry for this.
What i expect o happen. Buy up to 52.98. Bounce ontop of 52.81. Rise to 54.14-55.00. Drop to 53.83. Rise to 58.25. Drop to 57.10-57.29
Then I believe it will have a real fight again of actual bulls vs bears.
Comment:
Ok so an actual update. The opening bell has just begun. We are seeing a big amount of resistance, but truthfully, it just seems like normal day trading bears/profit takers. Lets see what happens at the day progresses.
I want to see it hold above 53.39 today and nothing below 52.81. Below the red line would seem dangerous to me.
I want to see it hold above 53.39 today and nothing below 52.81. Below the red line would seem dangerous to me.
Comment:
Volume profile shows weighted price at 52.93 with low of 52.83 Confirms the low that we want to see maintained atleast.
Comment:
So we've gotten our drop to around 53.83. I would put a stop loss under neath the 53.83 or the red line at 52.81 in case things go bad. It depends on my view of the market and greed.
The S and P looked like crap the other day. The DJI is almost like it is on crack with its gains. Long story short, things are hyper moving and the come down could be sooner than we expect.
We've been making good trades yall, lets keep it up and stay focused.
The S and P looked like crap the other day. The DJI is almost like it is on crack with its gains. Long story short, things are hyper moving and the come down could be sooner than we expect.
We've been making good trades yall, lets keep it up and stay focused.
Comment:
Two extra things.
Here is the better volume profile picture. Second. If we fall under 51.62 it will most likely take quite a bit to come back over it, now that we have made our launch upwards off of a quick sell-down to the 50.00 mark. If and when the DJI suffers, this may be the cutoff for a while.
Here is the better volume profile picture. Second. If we fall under 51.62 it will most likely take quite a bit to come back over it, now that we have made our launch upwards off of a quick sell-down to the 50.00 mark. If and when the DJI suffers, this may be the cutoff for a while.
Things going as normal so far.