GVT to continue following the trend? if so, buy at 88; sell 178
A buddy asked me to take a look at GVT today, and while this isn't a name that is typically on my radar, i am actually intrigued by this chart
Throughout the year, it has made a series of higher lows and lower highs finding itself in a wedge formation. It also followed a 50% retrace on the last major high to low. If we then use that retrace level as the high, and the low as price meeting that lower trend-line, would be around 88. If it continues following this 12 month pattern, i am liking a bounce up to THAT 50% retrace which would put it around 178.. just over 100% gain. yup! i like that! in the world of alts, this one seems relatively more stable, and probably a lower risk trade than most.
TL;DR :
buy at 88000
sell at 178000
Throughout the year, it has made a series of higher lows and lower highs finding itself in a wedge formation. It also followed a 50% retrace on the last major high to low. If we then use that retrace level as the high, and the low as price meeting that lower trend-line, would be around 88. If it continues following this 12 month pattern, i am liking a bounce up to THAT 50% retrace which would put it around 178.. just over 100% gain. yup! i like that! in the world of alts, this one seems relatively more stable, and probably a lower risk trade than most.
TL;DR :
buy at 88000
sell at 178000
Trade active:
orders filled at 8801
giddy up
giddy up
Comment:
beautiful! hit that trendline near perfectly and massive 25+ % bounce so far
:) giddy up indeed
:) giddy up indeed
we are getting close!