Hi SAF. As the weighting of technicals varies from
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Posted On: 08/14/2020 7:48:13 AM
Hi SAF. As the weighting of technicals varies from one trader to the next, I'm just curious what you're using for your 2.80 low.
On the daily chart, the closest things I'm seeing there are
1) the 7/13 2.86 low from the FDA RTF for HIV. Maybe you're thinking we'll wick it?
2) an uptrend line starting at the 3/30 low and passing through the 4/15 low (not strong imo) would put us right at around 2.80 if the bottom falls out and we push that low in the next 3-5 few sessions
3) if using volume profile there is a high volume zone (not defined enough to call it a poc) starting around 2.80
I like to look for confluences and the one that's jumping out the most to me is around 3.50 where the major uptrend line starting 3/26 intersects with the channel we've be riding since the M2M safety only (see circle on chart below). Below that there are the less defined uptrend lines, the 200 and the open gap I'd hope we don't have to fill.
On the daily chart, the closest things I'm seeing there are
1) the 7/13 2.86 low from the FDA RTF for HIV. Maybe you're thinking we'll wick it?
2) an uptrend line starting at the 3/30 low and passing through the 4/15 low (not strong imo) would put us right at around 2.80 if the bottom falls out and we push that low in the next 3-5 few sessions
3) if using volume profile there is a high volume zone (not defined enough to call it a poc) starting around 2.80
I like to look for confluences and the one that's jumping out the most to me is around 3.50 where the major uptrend line starting 3/26 intersects with the channel we've be riding since the M2M safety only (see circle on chart below). Below that there are the less defined uptrend lines, the 200 and the open gap I'd hope we don't have to fill.
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