Hello, traders!
This chart has taken a beating as coming from a high of $150.00 to now currently it is at $0.53 per share. A decrease of 99% and it appears, it will continue.
What we are currently looking at is a bearish channel, an indicator of consistent downtrend, and has broken out on the 1 hour time frame, signaling an intensification of the bearish trend. Now is the time to strategize.
We need more confirmation before entering a short. When this flag breaks, I will be short #ACB and I will be taking profits at the main impulse fib extension 27.0 and 61.8.
Manage your risk, follow your plan and document your results! :)
This chart has taken a beating as coming from a high of $150.00 to now currently it is at $0.53 per share. A decrease of 99% and it appears, it will continue.
What we are currently looking at is a bearish channel, an indicator of consistent downtrend, and has broken out on the 1 hour time frame, signaling an intensification of the bearish trend. Now is the time to strategize.
We need more confirmation before entering a short. When this flag breaks, I will be short #ACB and I will be taking profits at the main impulse fib extension 27.0 and 61.8.
Manage your risk, follow your plan and document your results! :)