OSK BTD off Symmetry Support
Updated
This came to me in meditation, and this is a good thing, usually. The chart is ugly with no great trend, but this is what I'm given. I do technicals and then a "reading" with my pendulum and cards.
What I'm seeing:
- weekly timing just counting bars, and it appears to be in a weekly timing window.
- 200 EMA at $83.42, 50 week MA $82.45, weekly ATR trailing stop just above there and Symmetry support at $81.76
- I like the zig zag pattern down.
- The "reading" indicates we expect to dip below last week's low ($83.62) and reverse. I feel good about the message and the way it lines up with the technicals. I'm looking for a 5% gain this week ($86.55 from entry) and then I'm out.
- Entry ~ $82.43 near 50% retracement
- Stop is a daily close below $81.76 (sym. support)
What I'm seeing:
- weekly timing just counting bars, and it appears to be in a weekly timing window.
- 200 EMA at $83.42, 50 week MA $82.45, weekly ATR trailing stop just above there and Symmetry support at $81.76
- I like the zig zag pattern down.
- The "reading" indicates we expect to dip below last week's low ($83.62) and reverse. I feel good about the message and the way it lines up with the technicals. I'm looking for a 5% gain this week ($86.55 from entry) and then I'm out.
- Entry ~ $82.43 near 50% retracement
- Stop is a daily close below $81.76 (sym. support)
Note
I don't think this reaches my entry, so I would go long today (2/19) with a stop at $83.45
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.