ADBE — Supply Held Through Earnings. Here's the Full Structure.
@Collin Farmer — remember when you asked if now was a good time to buy Adobe? I told you the market structure was ugly as foot. Here's what just happened. Adobe reported after hours — earnings beat, revenue beat, CEO stepping down. Three bullish headlines. Price rallied. And capped directly into our lower supply zone at 284-306. The structure: I was previously bullish on ADBE. Then price broke key market structure around 275 — that was the line in the sand. Once 275 broke, bias shifted bearish regardless of fundamentals. Two supply zones were mapped: • Lower supply: 284-306 • Upper supply: 327-344 What happened: Earnings dropped. Price rallied into the 284 area — the bottom of our lower supply zone — and immediately sold off after hours. The zone held. Structure > headlines. Why this matters: This is the principle in action. If fundamental news isn't explosive enough to gap through mapped structure, the structure absorbs the move. Positive earnings + CEO change wasn't enough to crack supply that was already sitting there. The read going forward: • 275 remains the key structural level — below it, bears have control • 284-306 supply just proved itself. Sellers are active here • For ADBE to flip bullish, price needs to reclaim 275 AND push through 284-306 with acceptance • Until then, rallies into supply = selling opportunities IF price reclaims 275 and holds → reassess for longs IF price continues rejecting at 284-306 → structure confirmed bearish IF price gaps through 327-344 → full reversal 📊 Daily chart Use this going forward: If you're holding anything through earnings next week, post your levels here before the report drops. I'll review your zones so you're not guessing when the number hits. Did anyone else have ADBE on their radar heading into tonight? Drop your read below — even if you didn't trade it, I want to see how you would've mapped it.