Weekly Timeframe (Chart A):
Price has completed a five-wave bearish structure.
After forming an ending diagonal pattern, price broke out of it with strong momentum.
This scenario is confirmed by strong divergences on both RSI and MACD.
Price now appears to be in a bullish corrective phase, which could extend at least toward the upper boundary of the minor weekly channel.
Lower Timeframe (Chart B):
Wave 5 of 5 ended with clear divergence.
A fake breakout above the channel high occurred during a very low-volume market period.
Price is currently correcting toward the marked demand zone.
This demand zone overlaps with the mid-range of a valid 4-hour channel.
After reacting to this area, price may move toward the channel high and attempt to break the key level.
ADBE
This is just my personal view, so please trade based on your own strategy and trading system.
I’d be happy if you follow me on TradingView to see more analyses and live stock trades.
Price has completed a five-wave bearish structure.
After forming an ending diagonal pattern, price broke out of it with strong momentum.
This scenario is confirmed by strong divergences on both RSI and MACD.
Price now appears to be in a bullish corrective phase, which could extend at least toward the upper boundary of the minor weekly channel.
Lower Timeframe (Chart B):
Wave 5 of 5 ended with clear divergence.
A fake breakout above the channel high occurred during a very low-volume market period.
Price is currently correcting toward the marked demand zone.
This demand zone overlaps with the mid-range of a valid 4-hour channel.
After reacting to this area, price may move toward the channel high and attempt to break the key level.
ADBE This is just my personal view, so please trade based on your own strategy and trading system.
I’d be happy if you follow me on TradingView to see more analyses and live stock trades.
AG-Precision-Trading
📈 Live Trading: Stocks & Crypto
🔍 Symbol Analysis & Insights
💎 Understanding Relative Asset Values
📈 Live Trading: Stocks & Crypto
🔍 Symbol Analysis & Insights
💎 Understanding Relative Asset Values
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
AG-Precision-Trading
📈 Live Trading: Stocks & Crypto
🔍 Symbol Analysis & Insights
💎 Understanding Relative Asset Values
📈 Live Trading: Stocks & Crypto
🔍 Symbol Analysis & Insights
💎 Understanding Relative Asset Values
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.