I'm looking at $MSFT on the 1-minute chart, and the rejection from 501.68 stands out to me. Price pushed higher, then sold off sharply to a visible 501.00 low before bouncing back toward 501.16.
For me, 501.26โ501.32 is the key area right now. The price is sitting around that zone, with the MA(7) near 501.37 and MA(99) near 501.32, so I'd like to see price reclaim and hold above this area before considering a long. A move back through 501.48 would give the setup more room toward the recent high.
๐ Entry: 501.32โ501.37 on a clean reclaim
๐ฏ TP1: 501.48
๐ฏ TP2: 501.68
๐ฏ TP3: 501.72
๐ Invalidation: 501.00
If price loses 501.00, I'd step away from this setup because that's the most recent visible swing low and the bounce would be losing its structure.
I'm not chasing the current bounce here. I want confirmation around the moving-average area first; otherwise, the safer read is to wait and see whether buyers can actually regain control.
For me, 501.26โ501.32 is the key area right now. The price is sitting around that zone, with the MA(7) near 501.37 and MA(99) near 501.32, so I'd like to see price reclaim and hold above this area before considering a long. A move back through 501.48 would give the setup more room toward the recent high.
๐ Entry: 501.32โ501.37 on a clean reclaim
๐ฏ TP1: 501.48
๐ฏ TP2: 501.68
๐ฏ TP3: 501.72
๐ Invalidation: 501.00
If price loses 501.00, I'd step away from this setup because that's the most recent visible swing low and the bounce would be losing its structure.
I'm not chasing the current bounce here. I want confirmation around the moving-average area first; otherwise, the safer read is to wait and see whether buyers can actually regain control.