FSLY Demand Zone Buy the Dip Opportunity
Updated
For DIP buyers Bullish on FSLY stock.
The green box is an optimal entry area to buy the dip.
Buyers already getting a head start as you can see price began to trade in green box and dip buyers saw the opp to buy at demand zone pushing price back above box- creating the wick.
Here I have 3 possible scenarios. Follow closely for whatever plays out then trade accordingly:
1) [black arrow]: Simple buy the dip opportunity. As price enters green box buy the dip with 1st target of $94 (look for divergences on smaller TFs for BTD confirmation)
2) ]blue arrow]: IF bulls fail to regain momentum and we lose green box. Patiently, wait for green box to be reclaimed then long the green box retest with the same target of $94
3) [red arrow]: IF price closes BELOW green box and bears continue to show strength. Wait for a retest of green box and IF bulls fail to get back above short at the green box targeting the lower green box at $65.
Notes to consider: All lower time frames are in oversold territory.
The green box is an optimal entry area to buy the dip.
Buyers already getting a head start as you can see price began to trade in green box and dip buyers saw the opp to buy at demand zone pushing price back above box- creating the wick.
Here I have 3 possible scenarios. Follow closely for whatever plays out then trade accordingly:
1) [black arrow]: Simple buy the dip opportunity. As price enters green box buy the dip with 1st target of $94 (look for divergences on smaller TFs for BTD confirmation)
2) ]blue arrow]: IF bulls fail to regain momentum and we lose green box. Patiently, wait for green box to be reclaimed then long the green box retest with the same target of $94
3) [red arrow]: IF price closes BELOW green box and bears continue to show strength. Wait for a retest of green box and IF bulls fail to get back above short at the green box targeting the lower green box at $65.
Notes to consider: All lower time frames are in oversold territory.
Note
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