Simple setup with some projected data points as price targets in time. If and only if at least 3 of them are hit, and maybe a wild card pivot point at any of the elements, preferably the pink rectangle, I would strongly suggest analyzing the potential for a bounce from the green rectangle zone in case another power wave forms that pushes the price higher. The idea is to hunt for the potential power wave, as these are the most fun to trade: momentum, volatility, few days in a trade but with bigger moves.
This project was made on a whim, so I might add one or two more elements during the update comments, but the main idea is straight forwards, easy to understand and easy to approach, as long as we pay close attention to the Japanese Candlesticks for any setups. For this one, in this case, for the simulated/imagined scenario, I will have a lookout for candlestick shadows for any clues, as these stocks can jump up and down without prior warning because of the trading hours.
Last but not least, whatever happens to the price action its relation/reaction to the elements in the project, the green rectangle is a projected potential support and resistance zone (in its specific time zone)/
This project was made on a whim, so I might add one or two more elements during the update comments, but the main idea is straight forwards, easy to understand and easy to approach, as long as we pay close attention to the Japanese Candlesticks for any setups. For this one, in this case, for the simulated/imagined scenario, I will have a lookout for candlestick shadows for any clues, as these stocks can jump up and down without prior warning because of the trading hours.
Last but not least, whatever happens to the price action its relation/reaction to the elements in the project, the green rectangle is a projected potential support and resistance zone (in its specific time zone)/
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Touchdown on the orange and a potential inflection point. If the dots keep getting ignored and missed, we might see some support (or resistance) at the green curve.
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Top green curve acting as resistance. Waiting for another such interesting "coincidence" in this project for the future. Fingers crossed.
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An interesting situation with what could be considered as a break and retest of the green curve. Not an ideal situation to be honest, would rather prefer to see another retest and rebound from this later on. (white circle example)
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NFLX poised to open around 7% lower after the news that it will not report number of new subscribers in the future. Time stamp of the green dot and the price is close to the blue curve which I don't know if it will act as support in this setup.
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This could be a considered a hit on the green and a pierce of the blue. Not sure if the blue will hold as resistance or the green as support, while the trifecta of green red and blue x could only worry me if it happens because I am not at all confident in the initial scenario (main scenario of the idea) from this position after this drop.
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From one curve to another, from resistance to support. Maybe there could still be a case for the bulls somewhere around here, but for now I am not convinced.
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D day or sideline day? Right in the spot of the arrow but after the failed support of the blue curve and more importantly after that big drop from above, this scenario might look intriguing enough, but I find it hard to pull up any strong bullish argument as envisioned by the initial idea which implied a corrective approach towards this spot.
Comment:
Bull run on the blue spot. This could be a reversal right here, or at least an attempt to go for 580 where it opened with the gap.
