Would love a trendline tap

5 lug 2022

Ive been waiting to see if MSFT was going to test this lower trendline here (circled area). That will be huge. From there we can see if that level holds or gives out. Can definitely go either way but the r/r from that area would be great for either a long or short. If it does hold use the lower trendline as SL for your long. If it gives out it is a short to the bottom of the range. In the event of a short make sure to keep an eye on where NQ and ES are. They are getting closer to their weekly 200sma's. I believe we will see huge move on markets once that is tested. Might be a shakeout type move below and some panic selling but in the end I think it sets up a great opportunity to try some long entries on either shares or calls.