Well I am typically bullish on SPOT I do believe market wind correction is on the way in Spotify will not be exempt. Price appears to have reached a couple different points of resistance and it is likely that price will retreat to the central 1/1 Gann angle on the chart.
Also, many other signals I typically look for are present - bearish div on multiple time frames, 3rd wave matches oscillator peak, price touch at fib level with high probability of reversal. Cautiously bearish for now.
Counter: The shape of the move resembles a flag and the 2.618 fib is not entirely out of play yet for buyers...
Also, many other signals I typically look for are present - bearish div on multiple time frames, 3rd wave matches oscillator peak, price touch at fib level with high probability of reversal. Cautiously bearish for now.
Counter: The shape of the move resembles a flag and the 2.618 fib is not entirely out of play yet for buyers...
Trade active
Went for the 2.618 - didn't quite hit - then sold off into negative territory for the day Trade closed manually
Target hit. The selling may accelerate here but gonna sit our and wait for a significant bounce
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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.