Great call on the fractal. Where do you price moving after this run retrace back to 30? Do we see sub 20 again?
ProfitHarvest
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@silverbearX, I think we're likely to end up in $23-$26 range right where green and purple meet before next bounce.
mike.sharko1982
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sold all at 35$. will rebuy lower
ProfitHarvest
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@mike.sharko1982, Nice, I scaled out more today too... we are quite overbought...
Erin2021
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from the chart, you meant the price will be down this week ? if so what is the TP to breakdown ?
ProfitHarvest
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@Erin2021, I don't know where Price is going but I've started scaling out profits. Would love to rebuy at the bottom of this green channel, have to play it by ear.
z3m25
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What books do I need to read?
ProfitHarvest
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@z3m25, I just leveraged my passion for best fit lines, it's all already there, just gotta decipher it ;)
Core trends over a given period should touch the maximum number of combined candle tops/bottoms and wick points to determine the likely growth adjusted trend and reactivity points for the future. Then just iterate at equidistance from there.
Betting on a solid company helps too!
z3m25
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@ProfitHarvest, You mean drawing support and resistance lines. Your neon Green line doesn't hit ANY wicks or closing prices other than the day at the end where it did hit it. What am I missing. If your trading channels, take a look at some bouncing off support/resistance now. TXRH, PYPL, TGT, AFYA, CTLT, TBK, CSOD, SLQT & ADM. They're all in my list of channel stocks ready to pop. I also swing trade Bullflags like nobody's business if you're into that as well. Long-term I stick to leveraged ETF's as it's a lot less risk with greater upside long term with a lot less work required.