Aiming for gap fill? With bullish cypher

7 ธ.ค. 2021

Bullish Signs:

• Large volume the last few candles showing bulls trying to stop the drop down below the 200 SMA on the daily.
  
• Bullish divergence on MFI and Stochastic implies volume attempting to push it up
  
• Market trend is leaning towards positive.
  
• Completed bullish cypher pattern
  
• Returned to the support of an ascending channel
  
• Squeezing between 50 and the 200 SMA on the daily.
  

Also noticing a negative divergence however. I don't think it'll have the same strength to reach the top of the channel, maybe a gap fill. Would think the safest entry is after confirmation above the 50 SMA.

9 ธ.ค. 2021

บันทึก

Worried about the setup as it could also be rising wedge that broke down with a bear flag. Would tread carefully.