These are nice stacked long red candles on volume. Nice reversal. A move like this will typically gain traction. We are at the lod and we do not want to retrace more than half of the long red candle. If we are not able to, the next wave of selling will be a new lod. Let this settle a bit and see how far we bounce. If we do close lower, this is going to leave nasty D1 candle with a long wick.
March 14, 20231 min read