I want to like Argo Blockchain based on the name and their fundamentals but the price action sucks, so no go for now $ARBK
I drew the IPO VWAP (black) and from high (red) on the hourly inset chart from @MarketSmith
From a book I have been reading. Original description of the Colorado River on top and just a few word changes (bolded) in the green shaded below.
The market IS a living breathing organism.
I know @rosenb_riley knows what book this is, anyone else?
my view of pullback, correction, bear market
- 2% stopped out of most longs
-3% probably have some shorts
-4% liking my shorts
-5% crush these things
-6% woo hoo
-7% getting stopped out of some shorts, pay attn
-6% first longs tentative
focus on $ action, not media labels
the 15 minute chart shows the most important VWAP level of the last 3 weeks when the market gapped lower on Monday 9/20
best scenario would be rally up to it, drop down towards 433 ish to create a higher low #marketdoesntcarewhatIthink