$ESH What a sh1tcoin! December, maybe then it will startGODAWFUL drawdown. WOW! GODAWFUL.
BUt December... I think she'll start to dig out then.
That lines up with markets being sh1tcoin through NOvember then taking off again, so mayebe smallcaps will get in o on the everything up blowoff top move.
Esh
$ESH - Gap fill & potential head-fake on descending triangle
1. Gap between 0.016 and 0.019
2. Gap fill & potential Head-Fake, Head-fake before run seem common of late with triangle setups
3. If break above 0.019 head-fake confirmed and descending triangle still in play,
other supporting indicators will be increased volume and MACD Cross
4. If rejects 0.019, descending triangle fails and will continue down or sideways
5. Previous rise to Descending triangle
6. Projected rise if triangle plays out = 0.038
(1-5) Elliot wave, Wave 4 is in progress with wave 5 yet to be seen.
What's good?
- A Class Management, 3x Directors moving from $0->500B start-ups into this ASX Micro-cap (Ex Google, Spotify, Youtube, Disney, Electronic Arts-EA Sports, Canva)
- E-sports is a growing sector and only a small portion of gamers 'the elite' are currently monetized, this leaves a huge opening in the tournament space for intermediate gamers
- Fully online tournament platform is already launched and operational with consistent growth in terms of games, sponsors and partnerships
- Anticipation is building around Moguls release of a App and its entry into the Mobile gaming space
- Just raised $8M in recent oversubscribed placement
- New management have only been in place for ~3 months, their impact should start to materialise heading into 2021
- Strong potential for unexpected news as the industry is growing and evolving fast and investors are new to the sector -It's the unexpected announcements which move price hardest
What's not good?
- Large amount of shares on issue
- Still a few levels of resistance to break through into blue sky territory
- High risk speculative stock which is by no means guaranteed - Need to manage risk appropriately
There's plenty more to add but only so much time
AIMO DYOR
SPX Good RR Setup for a short. I'm not implying the spx rally is over or a top is in. But looking at the channel the spx has been trading in since 2011 lows, there is not much room to the upside at the moment and believe by observation there is more room for the spx to pullback. My plan is to sell the hwb from highs to lows as long as it acts as resistance with a tight stop. Last week was the first time the 61.8 short held as resistance. For the whole month of February there was no resistance, last week it showed up. If it continues, looking to sell resistance. If the market rallies back up to highs which it could, I would look to sell into strength with my stop above the top channel. IMO it's a good rr trade and better than the long at this moment. I would look to take off the trade ar 2020-2012 could even see the spx trade back to 1968.
