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ARKK, rarely a bottom is flat

ARKK, rarely a bottom is flat

Postby Cobra » Wed Mar 03, 2021 11:46 am

$ARKK, rarely a bottom is flat, so probably it's either a consolidation pattern here (blue lines) which means a pause first before break down, or, if break down here then measured move (tinted area) down.

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That said, on the weekly chart it's the very first touch of EMA20 in millions of years so could attract some buyers so I won't be be too bearish here.

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Re: ARKK, rarely a bottom is flat

Postby Cobra » Fri Mar 05, 2021 11:16 pm

$ARKK, hammer plus volume surge so a rebound should be due if not already the low was in. It's 100% measured move down so the momentum still is strong therefore could be a 3rd leg down after the rebound.

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Re: ARKK, rarely a bottom is flat

Postby Cobra » Fri Mar 05, 2021 11:49 pm

Maybe I draw this way, it'd be easier to understand what I mean?
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Re: ARKK, rarely a bottom is flat

Postby Cobra » Mon Mar 08, 2021 9:58 pm

$ARKK, no further rebound after the hammer, bulls are much weaker than I thought. Now I don't know when we'll see a short term rebound. The only thing I know is chances are there'll be another leg down after the rebound.

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Re: ARKK, rarely a bottom is flat

Postby Cobra » Tue Mar 09, 2021 4:47 pm

$ARKK, rebound as should be, still believe likely it'd fail eventually.

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Re: ARKK, rarely a bottom is flat

Postby Cobra » Wed Mar 10, 2021 5:58 pm

$ARKK, it's a bearish reversal bar today but since usually I have no confidences in bears so I can only say, about 51% chances it'll be on dashed blue arrow tomorrow.
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Re: ARKK, rarely a bottom is flat

Postby Cobra » Wed Mar 24, 2021 2:51 pm

$ARKK is on the dashed blue arrow now as expected. Every time revisits the previous low there're 50% chances of double bottom so the revisit could be a higher low, bears need aware.

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Re: ARKK, rarely a bottom is flat

Postby Cobra » Wed Mar 31, 2021 4:34 pm

$ARKK, 2 consecutive strong bull bars (1st one was a good bull signal bar and the 2nd one was a strong entry bar therefore good successful chances of the trading reversals setup), there're some chances the low was in, watch. I know, some chances do not help trading but it's beyond the scope of the topic here. The actual trade will need consider the risk reward ratio which maybe a little late today (yesterday was good enough as it's a good signal bar, unfortunately I check ARKK chart only on Monday and Wednesday). If you don't understand what I'm saying then the trading reversals setup is not for you.

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Re: ARKK, rarely a bottom is flat

Postby merryme » Wed Mar 31, 2021 6:28 pm

Thank you for posting about ARKK. It gave me confidence to enter yesterday EOD. It was a great move today.
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Re: ARKK, rarely a bottom is flat

Postby Cobra » Thu Apr 01, 2021 9:20 am

merryme wrote:Thank you for posting about ARKK. It gave me confidence to enter yesterday EOD. It was a great move today.


Good luck in your trade!

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