Analysis of the current situation on SQToday, we will take a look at Square INC.
a) The price has been inside a corrective formation since February 2021
b) On August 2021, we saw the first attempt of a breakout, and since that movement, the price was not able to make a new ATH
c) Currently, we can see an ABC pattern on the edge of the previously broken structure
d) What to expect from here? -If the price makes a new ATH, we will confirm the bullish movement towards the targets drawn in the chart. Please pay attention to the cloned channel as a possible reaction level.
e) Let's assume the price is not able to make a new ATH, then the answer is pretty simple, "THERE IS NOT AN ACTIVATION LEVEL" (sorry for shouting). This is important to explain because inaction is a position itself. If the pride doesn't follow what you planned, you stay away from the market.
f) Invalidation levels ALWAYS below C (of the minor correction)
g) A movement like this can take between 150 to 200 days to be completed (if everything goes as planned, of course)
h) Remember: NEVER risk more than 1 to 2% of your capital on the stop loss of any setup.
Thanks for reading!
