$GOOG $GOOGL — reversal setup forming?
Short-term chart structure looks interesting here. After the recent selloff, price is testing a zone that's held before. Volume profile shows absorption, and we're sitting near key support.
Not calling a bottom, but the risk/reward is starting to tilt. If we reclaim the 20-day and hold above this week's low, that's your first confirmation. Invalidation is clear — break the local low and this isn't the level.
Watching for a bounce play with tight stops. If you're running options, consider a debit spread into next month's expiry rather than naked calls — limits your bleed if this chops sideways first.
Size accordingly. Reversal trades pay when they work, but they fail more often than continuation setups. Don't hero-size into hope.
Short-term chart structure looks interesting here. After the recent selloff, price is testing a zone that's held before. Volume profile shows absorption, and we're sitting near key support.
Not calling a bottom, but the risk/reward is starting to tilt. If we reclaim the 20-day and hold above this week's low, that's your first confirmation. Invalidation is clear — break the local low and this isn't the level.
Watching for a bounce play with tight stops. If you're running options, consider a debit spread into next month's expiry rather than naked calls — limits your bleed if this chops sideways first.
Size accordingly. Reversal trades pay when they work, but they fail more often than continuation setups. Don't hero-size into hope.