MRVL: Rising Wedge Breakdown Suggests Further Downside
📉 Price has broken down decisively from a rising wedge while trading inside the 0.5 - 0.618 Golden Pocket retracement zone, and that too with strong volume, increasing the probability of a deeper correction.
🎯 Bearish Points:
📉 Golden Pocket: $244 - $264
📉 Rising Wedge Breakdown
📉 Supported by huge volume
✅ Targets:
🎯 First major support/ Target: $160 - $167
📊 Extended Bearish Scenario
⚠️ Break below $160-$167 opens the door for a move toward sub-$100 levels
📉 That would represent a decline of more than 60% from the recent swing high around 255
❌ Bearish Invalidation
Strong daily/weekly reclaim above $255. A breakout back into the wedge structure would weaken the current bearish outlook
👀 For now, all eyes are on the $160-$167 EMA200 confluence zone. How price reacts there will likely determine whether this becomes a normal pullback or the start of a much larger correction.
🎯 Bearish Points:
📉 Golden Pocket: $244 - $264
📉 Rising Wedge Breakdown
📉 Supported by huge volume
✅ Targets:
🎯 First major support/ Target: $160 - $167
📊 Extended Bearish Scenario
⚠️ Break below $160-$167 opens the door for a move toward sub-$100 levels
📉 That would represent a decline of more than 60% from the recent swing high around 255
❌ Bearish Invalidation
Strong daily/weekly reclaim above $255. A breakout back into the wedge structure would weaken the current bearish outlook
👀 For now, all eyes are on the $160-$167 EMA200 confluence zone. How price reacts there will likely determine whether this becomes a normal pullback or the start of a much larger correction.
Dagangan aktif
here is the extremely low risk entry for a short trade.
📊 Charts → 🏗️ Structure → 🎯 Probability =📖 Chart Story
⏳ Patience → 🚀Success
🎯 If this setup makes sense to you, show it some support with a Boost.
⏳ Patience → 🚀Success
🎯 If this setup makes sense to you, show it some support with a Boost.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
📊 Charts → 🏗️ Structure → 🎯 Probability =📖 Chart Story
⏳ Patience → 🚀Success
🎯 If this setup makes sense to you, show it some support with a Boost.
⏳ Patience → 🚀Success
🎯 If this setup makes sense to you, show it some support with a Boost.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.