[Watch it] Sub 100$ GOOG looks interesting for some DCA
While was originally looking for some long term buy opportunity at 90$ and below, given the overall picture i started DCAing right from here close to the 95$ mark.
Reasons:
1) Pretty extended and unprecedented RED TD count on M
2) CMF sub-zero, unprecedented as well
3) Close to 0.5 FIB
4) ongoing bullish divergence on RSI
5) Price close to lower BB
Will accumulate down into the blue box, having the opportunity.
That said it may bounce off the 0.5 FIB, eventually.
Mind the risk.
DYOR, highly speculative trade.
Prettified chart:
Reasons:
1) Pretty extended and unprecedented RED TD count on M
2) CMF sub-zero, unprecedented as well
3) Close to 0.5 FIB
4) ongoing bullish divergence on RSI
5) Price close to lower BB
Will accumulate down into the blue box, having the opportunity.
That said it may bounce off the 0.5 FIB, eventually.
Mind the risk.
DYOR, highly speculative trade.
Prettified chart:
Comment:
91$ filled.
Comment:
Even 87,5$ filled, dropping like a rock.
Comment:
Price is already within the blue box, just 3 days later.
Trade context:
What we're seeing is basically a textbook ABC correction, which is the scenario i was betting on. Except i am not entirely sure such an impulsive move will nail the 73$ mark without incurring into a strong bounce. Lower BB was broken already and price is still pretty close to the FIB 0.5 mark.
Will look at W close.
That's the reason i started DCA'ing a slightly higher, to be reasonably sure to have most of my bids filled.
Trade context:
What we're seeing is basically a textbook ABC correction, which is the scenario i was betting on. Except i am not entirely sure such an impulsive move will nail the 73$ mark without incurring into a strong bounce. Lower BB was broken already and price is still pretty close to the FIB 0.5 mark.
Will look at W close.
That's the reason i started DCA'ing a slightly higher, to be reasonably sure to have most of my bids filled.
Comment:
85$ filled.
Nice.
Nice.
Comment:
Now let's see, i think a bounce may be close.
Comment:
Back over 94$, a week later.
That's the candle we bought:
Timing was pretty good and candle does looks pretty so far.
Yet it has to be checked on monthly close.
Enough for the scope of this post.
Whether you're here for a quick scalp or for longer term, it's up to you managing the profit you're sitting on.
That's the candle we bought:
Timing was pretty good and candle does looks pretty so far.
Yet it has to be checked on monthly close.
Enough for the scope of this post.
Whether you're here for a quick scalp or for longer term, it's up to you managing the profit you're sitting on.
Comment:
I think it may move within few weeks.
If so first target would be close to 110$ mark.
If so first target would be close to 110$ mark.