When it comes to GOOG Alphabet, right now it is in a downtrend and it is likely to get support at S1; which is near 2850. Since it is showing the bearishness, you might see a gap down. If gap down doesn’t happen, I wouldn’t recommend you to take the short position unless you get a pull back. When price reaches S1, you may go long while using S1 as a support area. And if you do, make sure to place the stop below the S1. Once you are in, you first exit should be at T1, which might act as a resistance area since we seen two strong rejections there.
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Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
If you find this technical analysis useful, please like & share our ideas with the community.
What do you think is more likely to happen? Please share your thoughts in comment section. And also give a thumbs up if you find this idea helpful. Any feedback & suggestions would help in further improving the analysis.
Good Luck!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.