PLTR 4-hr could not break highs on Thursday. So, Friday pre-market, I took a short position at $180; failing highs indicate weakness. Additionally, Friday could not break Thursday high, so its highly likely that Friday lows will be re-tested on Monday.
Where am I looking to take profit? Once we reach Friday low, I will watch to see how price reacts. Looking at the volume node, if we break Friday low, its possible to have a quick decent down (due to volume gap) to the $170 area; my target is $168ish (bottom of volume node).
Where am I looking to take profit? Once we reach Friday low, I will watch to see how price reacts. Looking at the volume node, if we break Friday low, its possible to have a quick decent down (due to volume gap) to the $170 area; my target is $168ish (bottom of volume node).
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.