Looking at a sell between $171 to $181, and the triangle to complete between $88 to $95.
Looking at the completion of structure before taking any action.
Comment
⋅
Long trade close half position, short trade trigger, close half as target hit 1:1, SL to entry for short trade.
Comment
⋅
Correction to previous comment on 12th May, triangle is completion at e, Looking for a 5 wave move down to C. SL shifted for both position. All the best.
Comment
⋅
Long position still holding, the second short position was stopped out at break even, however this might be an expanding or regular flat
Comment
⋅
SL for Long position shifted to $160, risk free trade. If this is wave 3 I am looking at $620 to exit half position.
Trade closed manually
⋅
Close my long position. Looking at an expanded flat
@dudiniti, so funny to see people trying to day trade this stock. Just HODL.
baumulrich
⋅
"looking to go long at 88 to 95": So is every other person in the world, as proven by the spike in early march. The massive buying that came in as well as the violent rejection of 112 after earnings will make it impossible.
I would propose that this is a different structure: impulse wave 12345 starting from A. a=1, b or d is 2, with an abc downard. b and d forming a double bottom. We're going upwards.
fettwap
⋅
@baumulrich, do you see use going back down to around 135-125 range first?
baumulrich
⋅
@fettwap, I personally dont see it, but of course that could be a thing.It would then form a triple bottom with the 04/13 and 05/10, which usually leads to an explosive break out, and to be fair, this sounds like something GME would do. But a double bottom at 132 seems like a strong indicator for a reversal to the upside as well
rattle82
⋅
@baumulrich, you gave me new insight, thanks ! However I am sticking to my analysis and will react according to price actions will keep your proposal in mind =)
baumulrich
⋅
@rattle82, Totally understand that. I also have a few buy orders sitting in the 110s and 120s, so if it drops, I get to stock up on the cheap. Best of luck to you!
rattle82
⋅
@baumulrich, yeah, all the best I am in a position at $120 as well =)