Anticipating The Bounce In GOOGL

Sometimes when we don't see a setup on a daily chart, the lower time frames fill in the blanks and we find one!  

This is an example of a 30-minute chart setup in GOOGL that ended up being tested on 7/5.  The zone came in at the 2110-16 area. The actual low was made at 2114.63 which was directly within this price cluster zone.  The rally that followed a test of this low has been $279.07 from it. 

Here is an example of a 5-min chart trigger.  Once we saw a prior swing high taken out on the upside along with the 8/34 ema crossover to the upside, you could take the long and risk below the last low or below the actual cluster zone.

Carolyn Boroden, who is renowned for her expertise in Fibonacci price and timing analysis, hosts the Fibonacci Market Analysis service at ElliottWaveTrader.