Anytime two bullish levels intersect it is considered confluence. When two bullish technical levels intersect it is called bullish confluence. The yellow lines indicate the bottom of the range according to trend, the green box indicates the bottom of the horizontal squeeze range. The trend means absolutely nothing to us other than to mark where anticipated wick could reach, naturally because of the stock and risk market crash yesterday it obviously would reach that line. This is a positive thing because it means that we don't have to wait for it to happen anymore, the painful part of the squeeze reversal is done. Now we wait on expansion and when a weekly squeeze expands moves are going to be substantial.
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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.