Daily:
-Consolidation supported by 200 day EMA (also seen on 200 SMA)
-VWAP from peak has been consistent resistance
1HR:
-Easily seen symmetry playing out in Inv. H&S/Rounding bottom bullish reversal
-Wedge forming above gap filled area of support
-Price finding support on 1HR atop converging EMAs. 50 EMA soon to cross 200 EMA, price is likely to be pushed higher, specifically given prior price action on 5/29 and 6/2 where the 50 EMA acted as strong and rising support level
Bullish as long as price remains above the gap area (>$14). I am looking for breakout of wedge/pennant on 1HR to enter this trade, I will place sell order for 1/2 position at the VWAP level.
-Consolidation supported by 200 day EMA (also seen on 200 SMA)
-VWAP from peak has been consistent resistance
1HR:
-Easily seen symmetry playing out in Inv. H&S/Rounding bottom bullish reversal
-Wedge forming above gap filled area of support
-Price finding support on 1HR atop converging EMAs. 50 EMA soon to cross 200 EMA, price is likely to be pushed higher, specifically given prior price action on 5/29 and 6/2 where the 50 EMA acted as strong and rising support level
Bullish as long as price remains above the gap area (>$14). I am looking for breakout of wedge/pennant on 1HR to enter this trade, I will place sell order for 1/2 position at the VWAP level.
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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.
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.