Spotify... the newest streaming music service to hit the NYSE via a nontraditional IPO
I have no fundamental analysis on this besides that they have a student subscription program that will 'hook' the next generation and a partnership with Hulu to incentivize membership gains.
Looks like we have made a clean break of a wedge here; can we test the 1.618 extension?
Limit your risk accordingly, I have this as an ~ 3:1 R:R or potential to gain 3 dollars for every 1 dollar risked.
'Spotify Technology , which went public in April, is the world’s leading music-streaming service by paying subscribers. Nearly a third of listening on Spotify happens through the playlists that its staff and software assemble, the company says.'
Trade closed manually
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got stopped at 173 in profit
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failure to meet the 125% exhaustion level is a bearish sign?
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getting closer to 125% sucks to exit early but better to have 1 in hand than 2 in bush
Good point, any pullback or we should watch for new entry point
hashcat84
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so inverted hammer is the stop indicator?
420snoop
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@amir_shams84, if u see in comments @Skinwah had called that 173 might be a top; once we broke past it i put my stop there and then got hit in profit so I took the $