TD 9 Count Exhaustive Candle and Tristar forming? Confluence?
So this has a lot of bearish potential.
The highest and most exhaustive candle of the TD Count is the TD-9.
We also have an Unconfirmed (It will take 2 days to confirm) Tristar pattern.
If the candle closes as such, we have 2 bearish points of confluence and both rely on similar ideas, both on top of a rally made up of consecutive candles, making them an ideal setup for a short.
That large candle was a 20% move and happens to be the highest we have ever been. That means we have a massive volume well under us with no horizontal protection. I assume at best there might be some angled physiological trend line to slow down a possible dump with small breaks but it's a long shot I don't know.
The reversal potential is huge and so far.. both these things I have mentioned are biased towards the downside. It will also probably bring out some short-term bearish trends on the weekly as well.
So, the upside of this is... it could fail and keep going I feel like this is more for anyone who invests casually. not trading If it were me, I would take profit as it stands wait for candles to the upside, and make sure this zone becomes support rather than a ceiling to be broken because it's already pretty high up. I see it falling up to 20-25-30% max. That stinks if you are holding. I personally rather be disproved by what comes next and allow the usual mentality to be that these stocks will grow anyway, and you're going to be up anyway eventually, I would not risk it though.
So the risk seems like take an L for a couple of weeks and hold the whole way through. Maybe you get out and get back in at a reasonable discount. worst-case scenario you buy a bit higher after the market shows that you should be okay. Meta is not going anyway anytime soon.
Anyway.. we are 2 days early anyway, but it's suspicious all I'm saying.
The highest and most exhaustive candle of the TD Count is the TD-9.
We also have an Unconfirmed (It will take 2 days to confirm) Tristar pattern.
If the candle closes as such, we have 2 bearish points of confluence and both rely on similar ideas, both on top of a rally made up of consecutive candles, making them an ideal setup for a short.
That large candle was a 20% move and happens to be the highest we have ever been. That means we have a massive volume well under us with no horizontal protection. I assume at best there might be some angled physiological trend line to slow down a possible dump with small breaks but it's a long shot I don't know.
The reversal potential is huge and so far.. both these things I have mentioned are biased towards the downside. It will also probably bring out some short-term bearish trends on the weekly as well.
So, the upside of this is... it could fail and keep going I feel like this is more for anyone who invests casually. not trading If it were me, I would take profit as it stands wait for candles to the upside, and make sure this zone becomes support rather than a ceiling to be broken because it's already pretty high up. I see it falling up to 20-25-30% max. That stinks if you are holding. I personally rather be disproved by what comes next and allow the usual mentality to be that these stocks will grow anyway, and you're going to be up anyway eventually, I would not risk it though.
So the risk seems like take an L for a couple of weeks and hold the whole way through. Maybe you get out and get back in at a reasonable discount. worst-case scenario you buy a bit higher after the market shows that you should be okay. Meta is not going anyway anytime soon.
Anyway.. we are 2 days early anyway, but it's suspicious all I'm saying.