Repeating Pattern
The last update on HOOD, said there’s a potential trading channel, link here.
The next day, price action negated that channel with a break to the upside.
That upside now looks like a ‘spring’, leading straight into an ‘up-thrust’; a repeating pattern.
HOOD reversed from its highs and today, looks to be testing that breakdown.
Volume for this session contracted by -37.5%, when compared to yesterday.
Robinhood, HOOD, Daily
From a trading perspective, a short was opened yesterday; HOOD-25-04.
Position size was increased today as price action was rising into its test (not advice, not a recommendation).
Stay Tuned
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