Previous Double Bottom Pattern (Invalidated)
New Pattern:
Symmetrical Triangle
Price target if breakout to the upside: $168- $169
Price Target if break to the downside: $150- $151
If Price Breaks Above Top of Triangle: Wait for a Retest (to confirm support), Then Enter Long
If Price Breaks Below Bottom of the triangle, Wait for a Retest (to confirm resistance), Then Enter Short
Note:
Tomorrows Fed meeting could have either positive or negative implications for the Market in General.
New Pattern:
Symmetrical Triangle
Price target if breakout to the upside: $168- $169
Price Target if break to the downside: $150- $151
If Price Breaks Above Top of Triangle: Wait for a Retest (to confirm support), Then Enter Long
If Price Breaks Below Bottom of the triangle, Wait for a Retest (to confirm resistance), Then Enter Short
Note:
Tomorrows Fed meeting could have either positive or negative implications for the Market in General.
Trade active:
Broke above the symmetrical triangle;
If Support holds on the re-test, I expect a bounce to the upside price target.
If Support holds on the re-test, I expect a bounce to the upside price target.
Trade closed: target reached:
1st: Price broke to the upside, and the re-test of the support held.
2nd: There was a quick fake-out to the downside,
3rd: A strong earnings report, helped push the price up to our initial target.
2nd: There was a quick fake-out to the downside,
3rd: A strong earnings report, helped push the price up to our initial target.
Message me if you have any requests regarding a particular stock or crypto. I''d be happy to share my thoughts / analysis.