GIGA buy-in zone
GIGA has been consolidating arquably in this downward slope and is now meeting a weekly support area(purple) and getting close to trend support line(blue). There is a fvg(fair value gap) below the weekly support and wouldn't be surprised if this is to be filled before possibly continuing to the upside. Also, a douple top has been formed in 8h and MACD has printed bearish divergence, not to be overlooked.
What do I expect here, is possibly some sort of quick liquidity sweep to fill the open fvg and then resume higher according to the trend. If we close below the blue trend line and spend more time there, we have to argue that the trend might be broken and re-evaluate. I am looking into further correction if the low range of volume profile(white line) gets broken and fails as a support to the price. Overall, I remain very bullish for the long run and these lower prices presents very good buying opportunities.
What do I expect here, is possibly some sort of quick liquidity sweep to fill the open fvg and then resume higher according to the trend. If we close below the blue trend line and spend more time there, we have to argue that the trend might be broken and re-evaluate. I am looking into further correction if the low range of volume profile(white line) gets broken and fails as a support to the price. Overall, I remain very bullish for the long run and these lower prices presents very good buying opportunities.
Note
Currently performing a liquidity sweep and looking for buy-side liquidity from this FVG. Added some to my bag here and expecting a bounce. Let's see what happens.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.