August 6 Chart of the Day - Six Flags Entertainment Corporation
Highly precise price action technical analysis offers the strongest trading edges and the most opportunities across the markets, making it the foundation of our reviews.
Six Flags Entertainment Corporation (FUN) has felt anything but fun for investors lately.
After weeks of relentless selling pressure, the stock finally tagged a key level that long-time ChartPros Trade Room member Darren Bush had been tracking with precision.
Today’s chart comes courtesy of Darren, who patiently waited for price to reach his pre-planned zone before executing his trade plan.
With price now testing a major area of interest, the question becomes whether this level holds—and if so, whether it marks the start of a recovery or just a pause before the next drop.
Consistent profitable investing and/or trading requires a structured, rules-based approach to price action analysis. Proven processes, disciplined risk-reward management, and precise execution create the foundation for long-term success.
When combined with powerful mental performance strategies, this method becomes the ultimate blueprint for thriving in any market, on any time frame.
Since May 2023, we've showcased over 575+ Charts of the Day and provide a Free Quick Start Guide to traders with ambitious income goals for our patent-pending NeuroTrading Method™.
Darren's Weekly Planning Chart
On this weekly chart, we see how Darren applied classic price action tools—trendlines, support and resistance, and Fibonacci levels—to map out a high-probability zone.
After weeks of volatile swings in both directions, there's a potential confluence and an area of long interest around the $22 level.
It’s a textbook reminder that in environments like this, a disciplined, well-informed approach is critical when assessing short- to mid-term potential.
Darren's Trade Execution Chart
After patiently waiting for price to reach his key level, Darren executed his plan with precision—and was rewarded with an almost immediate $3 bullish pop.
From a technical standpoint, this move could be nothing more than a relief rally… or it could be the early signs of a more meaningful reversal to the upside. Either way, the reaction validates the importance of planning ahead and letting price come to you.
It goes without saying though, the only guarantee in the markets is that price cycles. It cycles up and it cycles down across all time frames and all charts and rarely, if ever, moves in a straight line.
Only time will tell for sure what price will do next...
We use a combination of Fibonacci levels with key support/resistance zones and trend analysis to pinpoint potential price levels of interest and future targets.
With precision-focused charts like these, both traders and investors can confidently build and execute their strategies.
So what's next?
We don't make predictions...
Nobody knows for sure but using these 5 price action tools traders and investors can develop levels of interest in both directions.
- Support/Resistance
- Trend
- Fibonacci
- Supply/Demand Zones
- Change Control Zones
ChartPros provides the exact methodology in its price action technical analysis courses to create charts like this with the most precise and accurate levels from which investors and traders can formulate their respective trade plans.
Take a look at the charts and let us know what you think. We'd like to hear from you in the comments sections.
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