CRON - Throw over and Break of Parabolic Curve?
For the past 2 weeks we've been looking for the throw over and break of the parabolic curve. Was today the day? We got a nice throw over and the Snap! of the pink parabolic curve! Today may have been the 1st clue that this stock has rallied to fast and needs a bit of a retracement. I would really like the price to break the blue channel support line as shown and then have a fast retracement to the lower black channel support line.
We are looking for the bigger Gartley or Bat Patterns to complete. We are way far ahead in the diagnosis of which pattern to expect at this time, and simply thinking about future possibilities.
The Green Gartley looks nice with the 61.8% retracement to the old black channel line. We'll see. We need the B and C points to determine where the final D point (not shown) will be. I will be looking for the first pivot point B (If today was the high) around the ? labels shown in red. Then a Bounce back up to test ( and fail) the highs for point C.
I bought puts last week as shown and I am "underwater" at this time as price is higher than when the puts were bought. (too early)
I am still bearish on CRON at this time obviously :)
We are looking for the bigger Gartley or Bat Patterns to complete. We are way far ahead in the diagnosis of which pattern to expect at this time, and simply thinking about future possibilities.
The Green Gartley looks nice with the 61.8% retracement to the old black channel line. We'll see. We need the B and C points to determine where the final D point (not shown) will be. I will be looking for the first pivot point B (If today was the high) around the ? labels shown in red. Then a Bounce back up to test ( and fail) the highs for point C.
I bought puts last week as shown and I am "underwater" at this time as price is higher than when the puts were bought. (too early)
I am still bearish on CRON at this time obviously :)