This chart looks technical, it made a bullish ABCD pattern to the upside and then proceeded to consolidate this past year. when the market started falling down into the abyss fang had to follow. Since going public in 2013 FANG gained 700% therefore i am not looking for a long term value buy instead a short term counter bounce trade
Timing = 1 ( i think the market is overdue for a bounce )
Volume = 0 ( The volume has been huge on this selloff and it doesnt appear to be slowing down )
Group strength = -1 (Energy sector looks super weak and that worries me)
Entry = 1 ( i like this entry below current price bc of the great volume on the selloff)
Fractal = 1 (fractals support a reversal )
Timing = 1 ( i think the market is overdue for a bounce )
Volume = 0 ( The volume has been huge on this selloff and it doesnt appear to be slowing down )
Group strength = -1 (Energy sector looks super weak and that worries me)
Entry = 1 ( i like this entry below current price bc of the great volume on the selloff)
Fractal = 1 (fractals support a reversal )