$BAT Breakdown signal, re-entry no higher than .267

Abandon ship🚢

If you have been following my video analyses on this symbol, I am extremely bullish in the long run, but sold my position this morning because a retracement seemed imminent… It appears to have begun. In my previous video, I defined clear breakout and breakdown boundaries for my position, I now have a buy order in at what might seem like an unattainably low price of .2267

The first support level would seem to be about .267
But this chart has a history of violent and rapid short term retracement after huge parabolic upward moves like this... One would fully expect price to retrace potentially to the center channel of the Bollinger bands on the daily bars if this sell off inspires the panic this chart has seen in the past, albeit momentarily, before returning to new interim highs, also extremely rapidly. Don't take your eyes off this one for possible support and reversal points as it may not get that low, but I see it as a definitely possibility.

Note

In order to avoid a breakdown during the current and/or next daily bar, the current one must close green, or at the very least comfortably above .29695 - the previous daily bar's opening price.

Note

For further clarification, a red candle of approximately the same size body as yesterday's green candle should signal a dramatically larger red candle tomorrow.

Note

as in the way the current daily bar (Friday) currently appears in this image... It is still in progress so anything could happen, but if it looks like this when it closes, it's a clear signal for retracement on Saturday's bar. That is not to say that the retracement is not underway right now, this candle could extend all the way down to the Bollenger band center before complete.

Trade active

Folks if you're following, I CLEARLY stated what this must do to avoid a breakdown, and I was able to get back in with an average fill of .312

I lost a penny, but if you knew what a single penny does to my position, you'd understand why I feel the need to play this safe...

Trade closed manually

Out again @ 32.2, can't take it need a little pullback, going to look for .30ish

Hollywood260AB

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Hollywood260AB