Hello Tradingview... Here we have a multi year inverse head and shoulder pattern that has broke out to the upside. I am posting slightly ahead of schedule as the monthly candle has not closed. In anticipation of the candle closing above the neckline we can position ourselves in this trade early.
I have zoomed in specifically to this decade long consolidation...
Hello.
Looking at potential retracement levels if 10K is rejected here. Looking for this pattern to playout. No trades executed on it just posting for record keeping purposes.
Thanks for looking.
ACB appears to be in a good buy spot here- This stock along with many of the marijuana names have been beaten up in the last few weeks/months.
The price is on/near the diagonal bullish trendline it has respected for a long period. Although it is not the strongest of trendlines with only 3 real bounces. I do think the risk meets tbe reward here.
Im looking at a...
This is the price range i have bids on- if we hit this price I am happy but slightly concerned about the bull trend being intact.
If we don't hit I am even more happy because a new high is almost certain!
Good Luck
Run for your life... JK
In all seriousness this stock is and has been overvalued for a very long time. Charts starting to reflect this.
With the failure to break ATH weekly close its starting to form a double top formation.
Especially with this weeks candle opening below last weeks red candle it is adding to my confidence on the short.
Ultimately the target...
Will trade the breakout either up or down. Measured move highlighted in green and red rectangle boxes.
Volume confirmation would be welcome but not required for me to trigger the trade. Will update once triangle is resolved.
Upside target 5.5
Downside target 3.5
Air Canada Cup and Handle target- target reinforced with fib extension. Profit taking around red rectangle box.
Oscillators not showing anything to cause concern- Volume would be great to see here.
BTC high chance of retesting lows. Whatever way you look at it I don't see support until 3500 to 3600.
At this point the question is will we hold those levels and bounce back up or break lower to go into discovering new lows for the year.
Resistance is 4k now. Watch out everyone. Good luck
