This stock has always been a favorite of mine because it has a very solid fractal behavior.
For those who don't know, a fractal is a never-ending pattern. Fractals are infinitely complex patterns that are self-similar across different scales. They can show (and prove) the constant behavior of a stock, which in this case is SNDL. I have annotated the chart for your convenience to show the past three "fortune fractals" that have made traders a generous amount of money.
If you can zoom in on the chart, I have added three circles for each of the fractals, these are the indicators used in my strategy to ride out the fractals (called Triple-Indy). I have listed the steps below
Steps to Riding the SNDL Fortune Fractal:
1.) Look for the Price Action crossing the SMMA 7 line, but don't buy yet! This is only a signal to start paying attention. A fortune fractal could very well be on the way. (indicated by the Purple Circle)
2.) Wait for a retest at/below the SMMA 7 line. This is the moment of truth, once the Price Action bounces/breaks above the SMMA 7 line, that is the time to enter the trade. (indicated by the Green Circle).
3.) Once the RSI has peaked, that is your indication to exit the trade. More money can be made, but this is the safest point I have found that GUARANTEES profit. (indicated by the Red Circle). (3rd fractal has two exit opportunities due to ascending triangle)
4.) Extra Step - Congratulations, you just rode a SNDL fortune fractal! May your account be as green as their products. lol.
------------------------------------
"We've been to the moon three times, it's time to go back once again."
~ Capt. Moki
------------------------------------
*** I am open to discussion about this idea, the more ideas the better for the community.
***This is NOT financial advise! it is simply my own strategy/ideas for SNDL! All traders MUST do their Due Diligence and adapt this into their own trading strategies as they see fit. Happy trading!
For those who don't know, a fractal is a never-ending pattern. Fractals are infinitely complex patterns that are self-similar across different scales. They can show (and prove) the constant behavior of a stock, which in this case is SNDL. I have annotated the chart for your convenience to show the past three "fortune fractals" that have made traders a generous amount of money.
If you can zoom in on the chart, I have added three circles for each of the fractals, these are the indicators used in my strategy to ride out the fractals (called Triple-Indy). I have listed the steps below
Steps to Riding the SNDL Fortune Fractal:
1.) Look for the Price Action crossing the SMMA 7 line, but don't buy yet! This is only a signal to start paying attention. A fortune fractal could very well be on the way. (indicated by the Purple Circle)
2.) Wait for a retest at/below the SMMA 7 line. This is the moment of truth, once the Price Action bounces/breaks above the SMMA 7 line, that is the time to enter the trade. (indicated by the Green Circle).
3.) Once the RSI has peaked, that is your indication to exit the trade. More money can be made, but this is the safest point I have found that GUARANTEES profit. (indicated by the Red Circle). (3rd fractal has two exit opportunities due to ascending triangle)
4.) Extra Step - Congratulations, you just rode a SNDL fortune fractal! May your account be as green as their products. lol.
------------------------------------
"We've been to the moon three times, it's time to go back once again."
~ Capt. Moki
------------------------------------
*** I am open to discussion about this idea, the more ideas the better for the community.
***This is NOT financial advise! it is simply my own strategy/ideas for SNDL! All traders MUST do their Due Diligence and adapt this into their own trading strategies as they see fit. Happy trading!
