The DVA trade above failed when the 7th bar could not recapture the 20 ema on a closing basis. The doji like stick with long upper wick foreshadowed further weakness. As soon as price moved below the doji, it was time to scratch the trade.The blue line at the intra-day pivot P is a good base. The ORL on Friday on one side and the two intra-day pivots from underneath create a solid base. If price moves back up to the base tomorrow, it might offer a better opportunity.
Just wanted to follow-up on CROX which sold off again today. I think its oversold and if price can regain the lower blue line and the 50MA (green), it should rally back up to $50.00
1 comment:
Jamie,
Looks like 41.4 is 1 yr .62 fib retracement. 43.0=blue line and .23 fib retracement up
Post a Comment