Crwd is one of my favorite stocks to trade - and it is setting up for another big move. The daily indicators looked good for a bottom (which I thought was a wave A meaning we likely go back up to retest the 230-240 area). BUT now it appears to me that we have this rising wedge / bear pennant forming and it could easily breakdown
So - what does this mean for us. Well we know the PTs on either side. Long - 240 ---- short 170... So breakout and we get a banger trade (can do bi-weekly to catch move maybe even weekly) or breakdown and same thing on the short side.
Trade idea: Draw the TL's on your chart and alert them - breakdown go short with a stop on re-entry into the flag. Breakout and go long with stop upon reentry into the channel.
So - what does this mean for us. Well we know the PTs on either side. Long - 240 ---- short 170... So breakout and we get a banger trade (can do bi-weekly to catch move maybe even weekly) or breakdown and same thing on the short side.
Trade idea: Draw the TL's on your chart and alert them - breakdown go short with a stop on re-entry into the flag. Breakout and go long with stop upon reentry into the channel.