Hi everybody this is my first post and the first time I've shown anyone my work. Constructive criticism in any form is what I would like. I'm a rookie. I have been trading options for 7 months (my only experience with the stock markets) and have managed to make some profit without going broke. Trading is how I've been making a living for the last 3 months. I have learned a lot from this community and am thankful for all the posts and responses that I've seen. Now down to business. In late November I saw a cup forming after noticing a inverted head and shoulders, the handle has respected the support line and with earnigs coming up I think a breakout above the ATH is coming. I'm not sure how high (I don't know how to figure that out) but I think 150/160 is a possibility. What do you guys/gals think?
Nice spot on the reverse SHS. For PT on a cup with handle I use a trend based fib extension from (1) the bottom of the cup to (2) to the top of the cup (3) to the bottom of the handle. PT is 154 - 161.
INONUTING
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@Philrilla, Thanks for the kind words and I will look into the FIB, I see it is used a lot. Wish I had more $ in this, I'm kind of stuck in a side way channel (CLF). Thanks again