Now for something different. Fundumentally the general fear of the virus is the only reason I see this going up.The question is if up how much up?
3 scenarios either :
1.this goes to 4$ wicth is a very strong level both as mirror and a correction from the previous gap down (fibbo)
2.this explodes up to 6.8-6.9 to fill the gap then most likely crashes to 4 levels.
3.This goes down again like my AKORN review which technically looks annoyingly familiar.The fundumentals are the key here though.
So I will choose scenario 2 cause of the ridicoulous R/R .It does not fit my general strategy still I would like to see how this plays out with a smaller R than usual.
3 scenarios either :
1.this goes to 4$ wicth is a very strong level both as mirror and a correction from the previous gap down (fibbo)
2.this explodes up to 6.8-6.9 to fill the gap then most likely crashes to 4 levels.
3.This goes down again like my AKORN review which technically looks annoyingly familiar.The fundumentals are the key here though.
So I will choose scenario 2 cause of the ridicoulous R/R .It does not fit my general strategy still I would like to see how this plays out with a smaller R than usual.
Trade active:
is that a bullish pennant forming :D?
Trade closed manually:
Seems the triangle broke below .Will stop here since it looks like outcome number 3.