clq price drop, page-88

$1.00 is a key psychological level that has to hold on the chart for a start. It is a location that just like 1.11-1.12 from where I am looking is another. It wasn't surprising on the short term swing taking into account opportunistic shorters are taking advantage as soon as 1.11 broke to sell it down. I wonder why price currently stopped falling right on 1C below $1.00? Interesting the chaft from @Moova pointed to the vwap being 1.02 but it was 1 hour before the close from his time stamp post. Perhaps you can make another one for today?

At some point from that initial break, price will form initially a perceive dead cat bounce and if there is momentum to continue, hopefully price will close back above 1.11. If this were to occur leading into tomorrow close then we can imagine a deep stop raid to clear out short term bull stops.

If you want to compare the mechanics to recent examples playing out, look no further than GXY, ORE, FMG.

GXY just dipped under a horizontal support, crucial to maintain the technicals then reversed yesterday initially slam down. ORE was more tricky as it spent 10 trading days churning off the first big break gapped up this morning. FMG ditto and it was deeper raid below the key support. Unfortunately I was FMG trading it and came out second best as I punt on the support holding and sold when it closed below. That is trading in my rules.

Very frustrating this week to see shorters taking advantage of CLQ and mistimed additional entries and I so wanted to take 1.00 asking yesterday but will have to remain prudent when under water for the sake of survival. On top of that I wanted price to come down to a certain price just below the recent low in KDR and it took off.

I will find out in the next few days if this is a temporary setback or the market has gone bearish. I just never try to predict the future because frankly I just don't know regardless of whatever fundamentals I read up on!

I wonder if ARL price action is similar to what I am anticipating?

If you flip the LIT etf on the weekly, you can see 32.63 is a key level with a bullish pin bar 2 weeks ago. Using the fib ratios, it comes in at the 38.1% retrace and halted so a shallow retrace. This is perhaps some clues to the state of the EV battery sentiment, just short term profit taking rather than a deep pullback? Meaning no real selling?

Interesting from one of my chart I posted yesterday Zhejiang Cobalt, price fell right into that support 97, dipped intraday then bounce. Its counterpart Nanjing Cobalt did the same thing!

Just some of my thoughts as I sit and watch on the shorters taking advantage. No complain as I would be taking advantage if I smell blood for an opportunistic trade if I were still shorting but I prefer to just buy and hold as long as I can try to ride a major trend.