🔸️Ticker Symbol: $META timeframe: H-1 🔸️Bearish Pattern 🔸️Investment Strategy: Short
TECHNICAL ANALYSIS: So I broke META down from 1W, 4H, 1H, 15M, & 5M timeframes... META is at key monthly and weekly S/R; which means price is poised to make a move. Now, I don't have a crystal ball; but there are a few order blocks to the highside/ downside of META's current price. Overall, with market sentiment, can't go wrong going with the market trend; however, to get into a better position to profit earlier, recommend we wait until we get confirmation. Price should retest the $159.5 level to fill the 15 min order block from last week; before retesting a higher level ($160.43); This could all happen during pre-market on Tues, but I'm banking that we get the buyers step up, lose strength, and set up to break below $159.5; my price target is $156.49, and a S/L above $161.
Looking at Trendsi Dashboard, the white middle line (money momentum) is pushing higher, which should be a second indicator to confirm price path; but the middle band is still red (indicating bearish sentiment). Direction is soooo easy to identify with the Trendsi dashboard; which assists in establishing a stronger hypothesis on future price action, especially as we couple this idea with supply/ demand trading. Come Tuesday, I will be looking at targeting the $150p strike under $1.0 on 9 Sept.
🔔 Follow for daily stock, crypto and forex technical analysis .
⚠️ Trading is risky, and I understand nothing is guaranteed. Proper risk management should be in place at all times to minimize losses. Please consult a financial advisor before trading. All Inclusive Trading LLC is not a financial advisor and may not be held liable for any losses which may occur.
TECHNICAL ANALYSIS: So I broke META down from 1W, 4H, 1H, 15M, & 5M timeframes... META is at key monthly and weekly S/R; which means price is poised to make a move. Now, I don't have a crystal ball; but there are a few order blocks to the highside/ downside of META's current price. Overall, with market sentiment, can't go wrong going with the market trend; however, to get into a better position to profit earlier, recommend we wait until we get confirmation. Price should retest the $159.5 level to fill the 15 min order block from last week; before retesting a higher level ($160.43); This could all happen during pre-market on Tues, but I'm banking that we get the buyers step up, lose strength, and set up to break below $159.5; my price target is $156.49, and a S/L above $161.
Looking at Trendsi Dashboard, the white middle line (money momentum) is pushing higher, which should be a second indicator to confirm price path; but the middle band is still red (indicating bearish sentiment). Direction is soooo easy to identify with the Trendsi dashboard; which assists in establishing a stronger hypothesis on future price action, especially as we couple this idea with supply/ demand trading. Come Tuesday, I will be looking at targeting the $150p strike under $1.0 on 9 Sept.
🔔 Follow for daily stock, crypto and forex technical analysis .
⚠️ Trading is risky, and I understand nothing is guaranteed. Proper risk management should be in place at all times to minimize losses. Please consult a financial advisor before trading. All Inclusive Trading LLC is not a financial advisor and may not be held liable for any losses which may occur.