PLTR has now returned all the way to the level of my first bear forecast of it dropping to under 10.
Almost hitting the second forecast target of under 5 (5.8 low, did miss by a bit).
And now hitting the target level for the long trade from the lows.
We're recently parabolic and spiking out a 1.61 fib. A lot of the times when this will reverse we won't break the 2.20 fib.
So as we're very close to that 2.20 fib, I fancy the odds on this. High RR entries close to the 2.20 fib. Quit above.
Comment
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PLTR down 15% of the entry level and broken the first major trend continuation level at the 76 retracement.
Stops on entries from high to even now. If the reversal thesis is correct the break is made now. Tolerance for some bull traps but should not see the entry level again in a clean bear move.
If it's going to work, should be fairly easy from here. Just a matter of patience. If it's not easy, it's probably not working.