LUCMF Asymmetric Trade PossibilityLuca Mining Corporation high reward:ratio — multi-month swing trade Here we have an asymmetric trade potential on LUCMF. Price has broken a long term downtrend and seems to have been creating a reversal pattern in the form of an inverse head and shoulders, as many silver miners are currently doing. This same pattern is not only present on most miners, but on the silver futures or spot charts themselves, in which silver has already broken out of; seemingly following the exact pattern of gold, in the handle portion of its cup and handle In this sense, it is safe to assume the miners are lagging silver in such a way that silver has been lagging gold — same exact pattern just slightly late to the party — this gives traders a “second chance” at catching the move in which silver is currently completing — in the miners
Long term target: $1.65.
Speculative entry point — any price above .45 in case of a false breakout
Conservative entry point — any price above the neckline breakout level (you can adjust this lower according to your risk tolerance as many smaller cap miners often produce false breakdowns)
I suspect there will be a false breakdown after seemingly confirming the breakout, which may warrant a liberal stop loss according to your personal risk preference
