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Pseudo Meat - The Final SqueezePlease know this is speculative and not serious. Please do not trade beyond meat lol. I'm not responsible for your loses/emotional distress. I was just bored looking at this sh*t show, when I noticed an interesting pattern that could play out. Bearish 5-0 Pattern (See link for rules). **I removed all the fibonacci retracements to make the chart look clean** The XA retracement falls in line with the 1.13-1.618 target range. The AB retracement of 1.618 - 2.24 probably will just barely hit. We are being held up by the POC on a significant volume profile right now. If it held here, I wouldn't rule out the pattern. Lastly, short squeeze to the 0.50 of BC @ 158.35 before selling off gracefully. **This can go much lower than the 1.618 fib, hence the rule for point C 1.618 - 2.24 (Essentially once it "bottoms", however if shorts are squeezed and it "bottoms" expect a 50% retracement). Now I know what you're thinking, IPO lock up is done. This overvalued pseudo meat company is going down way further. I agree. If this thing was a sh*tcoin, it'd probably be Verge. I don't know. However, it looks like the stock market is about to go on a run with interest rates being cut at ATH's, billions and billions of liquidity being dumped into the repo market daily, and dollar-weighted put-call ratio beginning to flash a buy signal (www.optionstrategist.com); I really wouldn't be shocked if this sucker screws the bears one last time before its inevitable collapse. I'm not saying go long. Not saying go short. I just wanted to float this out here, because on the off chance I'm right it'd be kind of cool.
NASDAQ:BYND
by BigDGoesHard
U.S Labour Day - "Thin Market"Just a gentle reminder to my fellow retail traders, beginners traders to be exact (professional traders, stay away! - This could be a patronizing post), today is U.S Labour Day. The banks are closed. The massive movers of the price are indeed the banks, so when they are closed, even though we can still trade USD pairs today, expect a very very small range price action today. The USD based pairs I am referring to even include Gold, XAUUSD and WTI/USD-Brent). Don't ask me Bitcoin vs USD. No clue about that! I roughly looked at Labour Days in 2016, 2017 and 2018 for the world's most liquid currency pair on the planet, the ranges at those days were indeed well below the average daily range at the time (Average = Avg 10 days +Avg 20 days + Avg 30 days). Cross pairs are game for today, their ranges are normal. Happy Trading!
by sufiansaid