Its a shame you got out before the decent move up the other day. I feel this may turn into an Ascending Triangle and break out after some more sideways actions
UnknownUnicorn266486
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Hi @Vinny10 I think Disney hits $151 before this move completes, however it could take a while before we finish that off as I think you a right this could be a triangle. I have since re-allocated the capital into other positions that I think have a lot more potential from here.
Vinny10
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@ROB.Reynolds, I agree although my short term target before a decent pull is around $157-$160 region. I took the size of the triangle on the weekly and projected up to where it broke out. In my experience, I've nearly always seen a lot of luck in hitting that target when the size is projected before a decent retracement. Depending on how you size up the triangle I guess would determine when it pauses. With that said, I'm eyeing your target also because it has good logic as your using fibs to arrive to that.