view the chart on the 7 min and it makes more sense, at least to me. smaller timeframe channels like to respect each other. maybe its a new thing maybe its not but its new to me. really interested in how this plays out. premarket tells all
Here is IWM bouncing off of the 5ema while also in the process of confirming an Daily inverse head and shoulders pattern. The inverse head and shoulders will be confirmed once price breaks 199.53 and this could give IWM a chance for continuation to $205+.
IWM looks to be reaching the UTAD stage of a Wyckoff Re-distribution schematic.
Lowering volume in the lead up to UTAD provides confluence to the idea. Expecting price to return to linear regression trend line around 120. Price could extend further, but I expect we are nearing the top of this rally and a sharp correction in 2024.
Take profit level of 120...
The set up from LT support off the bottom channel has Nuked (of course) and I say that b c this year is the year where everything looks like a perfect set up that just nukes. (except oil trades) At this point IWM can still be an over throw, if small caps are pricing in all this inflation & War in Ukraine & recession talk. If the chart is to follow NQ then we have...
We can either go lower to fill that open gap right off the bat...
or
We're going to go a bit higher to form the second shoulder, creating the H&S with a downside target of $193...
Either way, that gap is filling — not sure if it will today, but likely for next week and for certain before March's 3rd Friday.
The StochasticSlow is looking overbought, and the...
21-Jun
Stock investing strategies
Investing position about Supply-Demand(S&D) strength: In Rising section of high profit & low risk
Supply-Demand(S&D) strength Trend Analysis: In the midst of an adjustment trend of downward direction box pattern price flow marked by limited rises and downward fluctuations.
Today's S&D...
