ON is recovering well along with the sector in general.
About to test a tight confluence of Genesis and Covid fibs.
Expect a Dip upon first tap, or else look for a Break-n-Retest.
$40.11-40.28 is the exact zone of interest.
About to test a tight confluence of Genesis and Covid fibs.
Expect a Dip upon first tap, or else look for a Break-n-Retest.
$40.11-40.28 is the exact zone of interest.
Trade active
Resistance be Resisting!(yellow shaded part is from posting time).
.
Zoom in (m1) and add a fib to the dip:
Gives us a target of $38.64 for this dip.
See if we get there first, or break resistance first.
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Trade closed: target reached
Closed shorts and went long after Earnings(yellow shaded area is from posting time)
.
Closer look with some notes:
We are getting CLEAN PINGS on the Covid fibs (dashed).
Last two turns were NEAR MISSES, but still valid.
So we can continue to watch the dashed fibs for turns.
.
What next?
Assuming non-fib entry and early TP's
1st TP at $43.19, 2nd at $44.07
Let's see if we can get there.
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the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
Related publications
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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.
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
Related publications
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.