[Analysis] Google, up up and we go!
Updated
Google along with Microsoft are the few Tech Companies that still have huge growth potentials.
While it might be a little complacent to say "the only way is up", it would be more accurate to say "Up is the path of least resistance".
However, as traders, the more important question would be "How much drawdown can we handle".
We cannot trade with the expectation that the price will immediately head up right after we enter.
Hence there are three buy levels here for google base on their consolidation. [Look at the chart]
The drawdown to the last buy level is about 27%, and this is the sort of drawdown level that traders must be able to stomach without being stopped out by random noise movement or a short retracement.
Once you are able to understand this concept, trading will become effortless and easy.
Be ready to average down when the price reaches these buy levels. Your total risk should account for the possibility of price hitting Buy Level 3.
Trading should be earning you money while you spend time on your hobbies or families. If you're sitting in front of a screen scalping day in day out, then it's no better than a 2nd part-time job!
While it might be a little complacent to say "the only way is up", it would be more accurate to say "Up is the path of least resistance".
However, as traders, the more important question would be "How much drawdown can we handle".
We cannot trade with the expectation that the price will immediately head up right after we enter.
Hence there are three buy levels here for google base on their consolidation. [Look at the chart]
The drawdown to the last buy level is about 27%, and this is the sort of drawdown level that traders must be able to stomach without being stopped out by random noise movement or a short retracement.
Once you are able to understand this concept, trading will become effortless and easy.
Be ready to average down when the price reaches these buy levels. Your total risk should account for the possibility of price hitting Buy Level 3.
Trading should be earning you money while you spend time on your hobbies or families. If you're sitting in front of a screen scalping day in day out, then it's no better than a 2nd part-time job!
Note
Congrats Folks!
Join our telegram channel to receive free analysis videos and timely analysis updates.
t.me/joinchat/AAAAAEpysoIiZLpAi-2kTA
Our Patreon link
patreon.com/nimbuscapital?fan_landing=true
t.me/joinchat/AAAAAEpysoIiZLpAi-2kTA
Our Patreon link
patreon.com/nimbuscapital?fan_landing=true
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.