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August 16 Chart of the Day - Micron UPDATE from May 26

Today we'll update and take a look at the Micron (MU) chart from May 26.

Back then we posted these weekly and daily charts:

Next we'll take a look at today's daily chart to see how price played out from then.

We can see from a price action technical analysis perspective the chart "respected" the drawings we applied that provided multiple trade opportunities both long and short. That's the beauty of being a trader as opposed to an investor.

So what's next?

Nobody knows for sure but using these 5 price action tools traders and investors can develop levels of interest in both directions.

  1. Support/Resistance
  2. Trend
  3. Fibonacci 
  4. Supply/Demand Zones,
  5. Change Control Zones

Take a look at the charts and let us know what you think.  

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