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ThinkingAntsOk
Oct 21, 2020 1:32 PM

Our Stock of the Day / GOOGL Long

Alphabet Inc.NASDAQ

Description

Today we have a long setup to share. Here you will see a full explanation of it.

a) We can see the price above a major Resistance zone now working as a support

b) On that level, we have a corrective structure (ABC pattern), which is considered a bullish continuation pattern

c) We don't have any major resistance on the way towards the all-time highs zone. That provides us with a high-quality zone to develop long setups

d) Entry, Stop, and Take profit are the ones you can observe on the chart. The break-Even level will be the horizontal yellow line at the first Fibonacci Extension

e) We will risk 1% of our capital on this trade

f) We will cancel it if the price goes below the corrective structure

g) Remember: Trade safe, protect your capital, and always understand what you are doing.
Comments
ProjectSyndicate
excellent technical setup. test/break/re-test of the structure.
makes sense to me, already in the green. well done!
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