ACBFF Aurora Cannabis INC. Down before getting higher?
Updated
Lets keep it super simple!
I've been watching Aurora for some time now, and let me start off by saying this chart im posting is NOT in my favor with current position, but I cant just say its going up because I want it to, so lets look at what the chart has to say! Ill add more of course. Im in at @ 5.81 - 6.41, but sold on close today on the descending wedge formation @ 7.11.
This chart is the 15 minute because at the end of this wedge in a wedge, you cannot see the details with the 4 hr or daily.
We have seen this bounce respectively above the 5$ area, which is the blue line at the bottom.
There is a false breakout of long term wedge at $8, and has fallen back into place. We have a descending wedge pattern into close today, which I didn't want, but it is what it is.
Now if this wedge plays out through the end of the month, we should see another bounce at the bottom of the larger wedge at around 5.85 (labeled in green)
You can see we have indications to sell since 8$ on the 4 hour, and have slight momentum change bearish, but to note NO sell signals on the daily. Ichimoku is also crossed bearish just slightly.
I expect a small bounce around 6.75 back to maybe the 7.2 area, but will not play that trade, as ill be waiting for the full retrace to go long.
Happy Trading, Debating and speculating! Never give legal advice! I want everyone to win!
I've been watching Aurora for some time now, and let me start off by saying this chart im posting is NOT in my favor with current position, but I cant just say its going up because I want it to, so lets look at what the chart has to say! Ill add more of course. Im in at @ 5.81 - 6.41, but sold on close today on the descending wedge formation @ 7.11.
This chart is the 15 minute because at the end of this wedge in a wedge, you cannot see the details with the 4 hr or daily.
We have seen this bounce respectively above the 5$ area, which is the blue line at the bottom.
There is a false breakout of long term wedge at $8, and has fallen back into place. We have a descending wedge pattern into close today, which I didn't want, but it is what it is.
Now if this wedge plays out through the end of the month, we should see another bounce at the bottom of the larger wedge at around 5.85 (labeled in green)
You can see we have indications to sell since 8$ on the 4 hour, and have slight momentum change bearish, but to note NO sell signals on the daily. Ichimoku is also crossed bearish just slightly.
I expect a small bounce around 6.75 back to maybe the 7.2 area, but will not play that trade, as ill be waiting for the full retrace to go long.
Happy Trading, Debating and speculating! Never give legal advice! I want everyone to win!
Trade active
What a call right? Trade still going, the 6.75 bounce call is still possible if a small breakout occurs tomorrow, with a failed breakout to target zone afterwards.Check out my other charts, as they are all on point, for now..
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Trade active
Wedge broke out just as I commented above, hit the sell zone. Looking for my full pull back now.Trade closed: target reached
closing this chart, as my other one is more up to date and accurate. no need to carry on with 2 charts. 
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