Don't enter at this point. Wait for more clarity. Probably overbought.
Short-term trendline, not yet at trendline (yellow) wait for a new low before entering.
I would not recommend buying in a downtrend.
Congestion at the entry point. Wait Would have been a good setup only for the congestion! This is the price of discipline.
I wanted to show more drawings on this chart. But avoided lest it leads to confusion. Weekly Downtrend channel in green. Prices move back and forth. Expect them to return to the trendline. Problems: 1.Double top at midline. 2. Short term Downtrend. 3. Stock has broken the daily channel in yellow and given a new high. Time for a new trend or range to begin. Wait...
Watchlist There can be another tier to the channel. However, that seems unlikely. The prices can bounce off the support after the breakout and reverse strongly in the other direction. Wait and Watch
Congestion near our desired entry point. Skip for now.
Needs more clarity. In a tight weekly uptrend. Wait for a trend line retest. We will look for a tight stop loss to enter.
Short term trend channel broken. Prices attempting a new high. Can reverse after doing so. Longs, wait for the trendline to enter.
Stuck in a congestion. Wait before clarity. Bias: Long
Congestion. Top of the trend channel. Prices can reverse to the trendline. Don't enter.
Wait for a bullish reversal bar to enter. Watchlist