TradingView
without_worries
Sep 17, 2023 9:08 PM

ARK Next Generation Internet ETF to $32 Short

ARK Next Generation Internet ETFArca

Description

On the above 10-day chart price action has increased 80% since the year began. A number of reason now exist to collecting profits. They include:

1) Price action and RSI support breakouts.

2) Weekly bear flag confirmation pattern.

3) Hidden bearish divergence.

4) The bear flag extension mark the correction for this flag to 32 dollars.

Is it possible price action continues up? Sure.
Is it probable? no.

Ww

Type: trade
Risk: <=6%
Timeframe: Will say somewhere else

Trade active

Trade closed: target reached

Comments
ArtfulDodger1974
Uuuuum, hit $50 back in October. Today it's $85. Someone needs glasses or something.

This is exactly why I caution people on WWs ideas. They're good for entering a trade honestly, but often targets are exaggerated or way off and the idea is simply forgotten about. This is a first though. Closing the idea as "target reached" when it was nowhere near it. Solana at $8 instead of $5 was close enough but this?

In short, trade the idea, set your own REASONABLE target and take profits. Every time.
highkatmai
No Nasdaq 100 to 17000 anymore?
without_worries
@highkatmai, Patience... the idea above and the Nasdaq ideas are not mutually exclusive.
highkatmai
TheKitchenTrader
Agree, nice look.
More