WFC setting up a VWAP bounce LONG
On this 4H chart, I see WFC having had a bit trend up and then a retractment through the
upper anchored VWAP lines toward the mean running VWAP where I expect a bounce.
At present, price action is in a bit of a flat bottom triangle. The ZL MACD supports this
impending reversal with bullish divergence in the line cross under a histogram which
went red to green. I will take a long trade here with a stop loss under the histogram
and a target just below the pivot high in mid July. I will zoom onto a 30 minute time
frame to better select an optimal entry on the reversal. I will check banks in general
including the ETFs KRE KBE BNKU and DPST.
upper anchored VWAP lines toward the mean running VWAP where I expect a bounce.
At present, price action is in a bit of a flat bottom triangle. The ZL MACD supports this
impending reversal with bullish divergence in the line cross under a histogram which
went red to green. I will take a long trade here with a stop loss under the histogram
and a target just below the pivot high in mid July. I will zoom onto a 30 minute time
frame to better select an optimal entry on the reversal. I will check banks in general
including the ETFs KRE KBE BNKU and DPST.
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