Looking to go long MARK on tuesday. Appears to have jumped the creek with the third close above this month. Looking for the markup. Long term TL's on the monthly chart with Wyckoff analysis. That black monthly candle from 2008, ouch.
I've been trading this for the last couple of months. Are you comfortable with a $10+ entry price? Despite the solid $10+ bullish close on Friday, I still think ~$8-8.5 is still in the cards
Moto_Trades
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@userxy, looking good here hopefully your profiting from this. never doubt the creek jump Wyckoff still rules.
userxy
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@Moto_Trader, I'm not familiar with your TA, but you interpreted the buy signal well. I haven't added stock to my position (still holding, but not scaling accumulation was a mistake in hindsight), but did well trading options since it's break out above high $10's.
If you don't mind sharing, how are you managing your position up here? What target prices are you expecting from your Wycoff TA?
Moto_Trades
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@userxy, I use a trailing volatility stop. Chandelier exit 4.0, the indicator can be found on stockcharts.com or you can use the ATR trailing stop in TOS. I have PnF targets of $18 on the hourly chart and 22 on the daily. There is not much price support in that big monthly candle so I do believe it can run to these targets. If you like this analysis you should study the wyckoff method i guarantee it will help your trading. If you want send me your email and I'll send you the original wyckoff pdf or you can download it free from the web. Cheers, hit me up anytime for some chart reviews hope this helps.