RBLX
Empty “Blox”.
Daily chart Analysis
This one touched 140.00 end of Nov.’22. Today, it closed at 35.38.
That’s almost a -75% drop! This will have to move up 296% from current price to break even!
The “bag holder” will tell you they’re in it “long term”. Aside from not being able to assess market value, they also don’t value their time smh.
After reaching all-time highs of about 140.00, a downtrend took price to all-time lows of around 24.00.
During the downtrend, price has been under the 200ema and respecting the 50ema.
After finding support at lows of 24.00, price bounced and broke thru 50ema. This put a momentary halt to downtrend
Price continued to move up until it ran into dynamic resistance from 200ema. Price was shot down but found support at 37.65.
Price managed to bounce from 37.58 but failed to break above previous highs.
We then had lower highs into support area of 37.65.
The pressure from the lower highs helped price break thru support at 37.65.
Price has since pulled back and turned 37.65 from support into resistance.
With an existing downtrend and a broken support level, price will look to continue downtrend. This is my cue to enter trade short.
Taking swing trade to previous lows.
Entering trade short.
Entry: 35.31
Stop loss: 41.50
Target: 24.66, +30.16, 1.72 RR ratio
Empty “Blox”.
Daily chart Analysis
This one touched 140.00 end of Nov.’22. Today, it closed at 35.38.
That’s almost a -75% drop! This will have to move up 296% from current price to break even!
The “bag holder” will tell you they’re in it “long term”. Aside from not being able to assess market value, they also don’t value their time smh.
After reaching all-time highs of about 140.00, a downtrend took price to all-time lows of around 24.00.
During the downtrend, price has been under the 200ema and respecting the 50ema.
After finding support at lows of 24.00, price bounced and broke thru 50ema. This put a momentary halt to downtrend
Price continued to move up until it ran into dynamic resistance from 200ema. Price was shot down but found support at 37.65.
Price managed to bounce from 37.58 but failed to break above previous highs.
We then had lower highs into support area of 37.65.
The pressure from the lower highs helped price break thru support at 37.65.
Price has since pulled back and turned 37.65 from support into resistance.
With an existing downtrend and a broken support level, price will look to continue downtrend. This is my cue to enter trade short.
Taking swing trade to previous lows.
Entering trade short.
Entry: 35.31
Stop loss: 41.50
Target: 24.66, +30.16, 1.72 RR ratio
Trade active
Trade closed: stop reached:
CStopped 44.41
Comment:
reentry
Entry: 35.31
Stop loss: 41.50
Target: 24.66, +30.16, 1.72 RR ratio
Entry: 35.31
Stop loss: 41.50
Target: 24.66, +30.16, 1.72 RR ratio
Comment:
gotta love it
If 44.41 exceeded, will close.