Remember, a bounce does not indicate a reversal, and things don't go down in a straight line. A sharp decline usually indicates a corrective wave, so always look for a short pull to the upside for potential short entries.
Entered a sizeable TSM position upon true break of this accumulation zone. This is also meant to be an education study of how to properly use moving averages. Many traders use moving average crossovers as buy and sell signals. While a crossover can potentially signal the start of an uptrend, they more often signal a non trending accumulation or distribution...
Clear accumulation to markup indicated by bullish stacked MA's. Ideal entry would be at the AVWAP from ATH, is showing a clear pattern of higher lows on the right side of a inverse head and shoulders pattern. Notice how each inverse head and shoulder basing pattern is made up of smaller inverse head and shoulders.
SPY has completed a textbook ABC style corrective wave and has now found support. Today formed a Naked Upward Reversal pattern, where price action opened above the previous day close, and formed a green inside candle after the naked bar. Technical statistics are in our favor of a new run towards the upside, supported by seasonality.
FVRR ending diagonal + Double Bottom + Potential Island Reversal. Confirmation of it being an ending diagonal comes from the 3-3-3-3-3 wave sequence within the sub waves. Two AVWAPS are shown. The longer term AVWAP acting as support, and the shorter term on off the ATH has been acting as a resistance. Lots of noise on this chart so I'm waiting on for it to break...
UPWK at a potential buying point. Found support at a long term trendline + 1 year out/post gap up (also where significant price action begins) Anchored VWAP. New pivot low would also align with the previous distance between pivot lows. This also could be the end of an ABC corrective wave, setting up a potential new move to the upside. Bullish RSI divergence is...
SQ diamond top. Broadening price action formation into a contracting one after a significant upside run. While I do like Square long, price action in the short term is determined by the psychology of buyers and sellers. Trying to make sense of price action moves in the short term using fundamental analysis will make absolutely 0 sense. You can't argue with that....