Well the pot stocks like these equal measured moves, and that would put us in the 10.75 territory, if this is the top and we are seeing a trend reversal.
Order cancelled:
I am watching this huge indecision candle form for the week. The market doesn't know what it wants to do. Buyers and Sellers are pretty split.
Consolidation is fine. But I can't make any money in that condition, so I will just be patient and wait for something to take advantage of. Maybe something on teh lower timeframes for scapers and day traders. I am trying to cut back on my trading, and only take the best of the best. This isn't a game of chance, its a game of odds, and like to stack the odds in my favour whenever possible.
Consolidation is fine. But I can't make any money in that condition, so I will just be patient and wait for something to take advantage of. Maybe something on teh lower timeframes for scapers and day traders. I am trying to cut back on my trading, and only take the best of the best. This isn't a game of chance, its a game of odds, and like to stack the odds in my favour whenever possible.
Comment:
Scenario 1; The week ended down from where it started , as a bearish indecision candle. RSI suggests a sell off is coming.
Maybe a bounce to test the high, form a double top and roll over.
Possible Trend Reversal setting up.
Scenario 2 ; Consolidation between 12 and14. Doesn't crack 16 until after Christmas. Year end sell off is coming. Funds sell off, year end bargin hunters push it back up.
Consolidation in a 3 dollar range. 11.50>14.50
Scenario 3: looking at the daily, its a double pullback, as long as we don't close below the EMA26 on the daily, we are still in a bullish trend. If you can afford to get in at this price, then you could take some daily swings.
Volatile Bullish Trend Continuation.
Scenario 4 - Some news drops, or quarterly earnings are announced. Which throws in new volatility.
For now, I am staying out, watching price action to tell me if I want to get involved.
Maybe a bounce to test the high, form a double top and roll over.
Possible Trend Reversal setting up.
Scenario 2 ; Consolidation between 12 and14. Doesn't crack 16 until after Christmas. Year end sell off is coming. Funds sell off, year end bargin hunters push it back up.
Consolidation in a 3 dollar range. 11.50>14.50
Scenario 3: looking at the daily, its a double pullback, as long as we don't close below the EMA26 on the daily, we are still in a bullish trend. If you can afford to get in at this price, then you could take some daily swings.
Volatile Bullish Trend Continuation.
Scenario 4 - Some news drops, or quarterly earnings are announced. Which throws in new volatility.
For now, I am staying out, watching price action to tell me if I want to get involved.
Comment:
Comment:
Rally to 13-.13.50 next?
I am telling myself;
Be patient, wait for the extremes. Don't give back your recent profits too quickly, or at all. :)