First off, check out my new VWAP script I wrote that allows you to use multiple VWAPS on multiple time frames at one time (used here with the black lines).
If we keep this momentum, we could see a slight dip to the 2.3 levels to re-test the VWAP as support. Using the Volume Profile, we can see that the Point of Control is around 3.2 which is the first major resistance we have to break through. 3.2 also happens to be the .618 Fib which plays nicely if you are a confluence trader.
Most likely, we will reject 3.2 and bounce in between the .618 and .5 levels for a bit and create another short term accumulation. Then we break 2021 highs and go straight to the moon.
Let me know your thoughts and any other types of analysis you guys are doing.
If we keep this momentum, we could see a slight dip to the 2.3 levels to re-test the VWAP as support. Using the Volume Profile, we can see that the Point of Control is around 3.2 which is the first major resistance we have to break through. 3.2 also happens to be the .618 Fib which plays nicely if you are a confluence trader.
Most likely, we will reject 3.2 and bounce in between the .618 and .5 levels for a bit and create another short term accumulation. Then we break 2021 highs and go straight to the moon.
Let me know your thoughts and any other types of analysis you guys are doing.