SMCI shows a bullish cup and handle on the four-hour chart, as well as a bullish Gartley harmonic. Point C of the harmonic lined up with the lower four-hour 100 linear regression channel and provided the best entry. The middle of the four-hour 100 linear regression channel coincided with the handle of the cup, as well as the weekly 20 SMA, which provided another excellent entry with more confirmation. Note
SMCI reached the target at the upper four-hour 100 linear regression channel, and then proceeded to reverse from point D on the bearish Gartley harmonic. As noted in my previous comment, the move was short term bullish on the leg from C to D, before completing the pattern and rejecting supply into point D, and trading to the bottom of the channel.Trade fermée: cible de profit atteinte
The bearish Gartley harmonic played out at point D, where the long was closed and the short was opened. The short is now approaching key demand levels with runners up nearly $250/share.
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Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.