This week (Wednesday) TLRY hits the long term 1:1.618 Fibonacci Time Extension taking the 3 most significant pivots.
In addition it is also drifting within the 1:1.618 Golden Window for Trend Based Extension taking the wave 1 and 2 pivots from the 2021 top.
This is high Fibonacci confluence that the bottom may be in or near and that the next bull market could be soon!
Be aware that this is a high risk stock, but high risk is also high yield if you get it right.
Not advice.
In addition it is also drifting within the 1:1.618 Golden Window for Trend Based Extension taking the wave 1 and 2 pivots from the 2021 top.
This is high Fibonacci confluence that the bottom may be in or near and that the next bull market could be soon!
Be aware that this is a high risk stock, but high risk is also high yield if you get it right.
Not advice.
Comment:
Bullish divergence coming in on the 4 hour chart could be a clue here that TLRY will pop.
Comment:
Slumped back down into the extension Golden Window.
Weed will always be a very risky play but in case you've been sleeping, all the punter longs are rekt now and this little slump is your golden chance to buy potentially before an enormous pump and could even be a wild bull market.
Wakey wakey.
Weed will always be a very risky play but in case you've been sleeping, all the punter longs are rekt now and this little slump is your golden chance to buy potentially before an enormous pump and could even be a wild bull market.
Wakey wakey.
Comment:
The more price wraps around this long term 1.618 extension; the better.
It can be building cause for the pump.
It can be building cause for the pump.
Comment:
And TLRY did wrap around the 1.618 to print this contraction pattern.
Now 26% after earnings.
This could well be the start of the bull market!
Now 26% after earnings.
This could well be the start of the bull market!
Comment:
Can someone give the grumpy commenter a hug.
Comment:
Here comes TLRY up 10% already today and this could be about to get very wild!
Its looking like the time and price extension fibs perfectly found the low 😎.
Its looking like the time and price extension fibs perfectly found the low 😎.
Comment:
Up 36% today!!! - and thats the magic of Fibonacci ratios 🚀🚀🚀.
Now its got above the 200 day MA it is hitting the 1:1 Golden Window and so it may pull back or perhaps even get to the next window.
Either way we have dream buys in the bottoming accumulation so there's no way i'm selling here.
But if a pull back comes it could be a steep one back to 0.618 where i'll look to top up.
Hope you guys are enjoying the ride 😼.
Now its got above the 200 day MA it is hitting the 1:1 Golden Window and so it may pull back or perhaps even get to the next window.
Either way we have dream buys in the bottoming accumulation so there's no way i'm selling here.
But if a pull back comes it could be a steep one back to 0.618 where i'll look to top up.
Hope you guys are enjoying the ride 😼.
Comment:
TLRY
Closed the week with candle body above the 50 week MA for the first time in a year.
In the previous bull market once it close above the 50MA it exploded into a wild 700% pump.
Could be real fireworks soon 🚀.
Closed the week with candle body above the 50 week MA for the first time in a year.
In the previous bull market once it close above the 50MA it exploded into a wild 700% pump.
Could be real fireworks soon 🚀.
Comment:
There are a few questions on the page but hopefully staying within house rules to say that I give an amount of my content to TradingView but not all of it. Sometimes the details will arrive late or not at all, if you see what I mean.
That said, I am projecting much higher highs for TLRY and it should at least get to the 0.618 retracement up @ $15.7 for a cool 900% profit.
But I think there is a good chance TLRY will go MUCH higher as descent from $300 has effectively been a 3 wave correction.
And what comes after a 3 wave correction?
A higher degree impulse wave ❕
That said, I am projecting much higher highs for TLRY and it should at least get to the 0.618 retracement up @ $15.7 for a cool 900% profit.
But I think there is a good chance TLRY will go MUCH higher as descent from $300 has effectively been a 3 wave correction.
And what comes after a 3 wave correction?
A higher degree impulse wave ❕
Comment:
Updates and new targets have been made. Will update to TradingView later.
Comment:
There will be gaps in content. Update coming soon.
Comment:
To catch up - we have been bearish on TLRY since 19th September and exited between $2.5 - $2.6 on the bounce.
Our new dip buy target since then has been $1.88 which is where the gap would fill and it is also within the 0.618 - 0.786 Golden Window.
If you remember, earlier in the thread I said we will look for a 0.618 pull back and now it has completed.
...
So far TLRY has held within the Golden Window and this can be a bit of a clue perhaps that a bounce may be coming.
TLRY loves to make moves while indexes are precarious and this may happen here.
Also the RSI has just tapped oversold which could be a likely point for a bounce as a retracement completes.
But most likely TLRY will only move on up if indexes are bottoming and with such a big dollar bounce today it looks dicey to get long here.
We may perhaps see a bounce here to lead into further correction as drawn, but it may also be a small bounce to go lower.
BUT if indexes are finding a low then TLRY may well also be here.
So I'm going to see more chart and will not be buying here, but if you love weed and have more appetite for risk then you could buy here and you may be rewarded.
From my perspective - crypto and related instruments are the winning market currently and so there is no need to buy weed.
So I may miss the move here but I want to see more of what dollar and indexes will do next.
If dollar makes a 0.618 retracement then it can be a great moment to look for deep buys and who knows maybe TLRY will be one of them.
And there is nothing wrong to see demand come in and buy with strength. Perhaps that will be the better option.
Our new dip buy target since then has been $1.88 which is where the gap would fill and it is also within the 0.618 - 0.786 Golden Window.
If you remember, earlier in the thread I said we will look for a 0.618 pull back and now it has completed.
...
So far TLRY has held within the Golden Window and this can be a bit of a clue perhaps that a bounce may be coming.
TLRY loves to make moves while indexes are precarious and this may happen here.
Also the RSI has just tapped oversold which could be a likely point for a bounce as a retracement completes.
But most likely TLRY will only move on up if indexes are bottoming and with such a big dollar bounce today it looks dicey to get long here.
We may perhaps see a bounce here to lead into further correction as drawn, but it may also be a small bounce to go lower.
BUT if indexes are finding a low then TLRY may well also be here.
So I'm going to see more chart and will not be buying here, but if you love weed and have more appetite for risk then you could buy here and you may be rewarded.
From my perspective - crypto and related instruments are the winning market currently and so there is no need to buy weed.
So I may miss the move here but I want to see more of what dollar and indexes will do next.
If dollar makes a 0.618 retracement then it can be a great moment to look for deep buys and who knows maybe TLRY will be one of them.
And there is nothing wrong to see demand come in and buy with strength. Perhaps that will be the better option.
Comment:
Might bounce here as some bullish divergence is coming in but its broken my Fibonacci retracement rule. Since it has moved significantly beyond the 0.786 down to 0.84 there is much higher probability that it will find its way back to the lows.
That makes it dangerous because if it gets back to the lows then there is a good chance this whole area has been a continuation pattern.
Its not impossible that the low could be here but this is a game of probability and this is now more risky than when it initially hit the double Fibonacci targets.
We'll see if it has a positive bounce then we may be able to get in on a pull back, but I won't be buying here.
That makes it dangerous because if it gets back to the lows then there is a good chance this whole area has been a continuation pattern.
Its not impossible that the low could be here but this is a game of probability and this is now more risky than when it initially hit the double Fibonacci targets.
We'll see if it has a positive bounce then we may be able to get in on a pull back, but I won't be buying here.
Comment:
Here comes that bounce for you traders out there...
Comment:
There was a bounce as I suggested and now hopefully you can see why I didn't enter.
I made a quick and tidy profit on TLRY. I was looking for much more but you have to take what the market gives you.
One grumpy commenter below suggested that I was hindsight trading in this thread but if you look to my update on 24th October I did show a chart from the 25th September that shows the bearish RSI divergence and potential for a bearish shakeout (SRP) through the 200MA and I took profit in that area.
And here it is again:
There were updates before highlighting that there would be a gap in content and I did that to show you guys so you would be aware and not left in the dark, but apparently it wasn't obvious enough as some of you didn't realise.
So anyhow, the bounce became a shakeout that has now been followed with bearish momentum candles.
And so sadly this little sweet spot of a double Fibonacci landmark that was the reason to buy TLRY and make this thread did not show the start of an uptrend but only a small pull back before going lower.
It still hasn't gone below the low so it could recover but it looks bearish.
And although there was a brief moment where there were big pumps in the weed market, those gains have now largely been engulfed with bearish action and the market looks bearish and probably heading much lower.
Here is Aurora - had an enormous pump but it got eaten up in a short amount of time
And Canopy not quite as bad but much the same.
Much better trades in other markets - see my EPIK thread today for details.
I made a quick and tidy profit on TLRY. I was looking for much more but you have to take what the market gives you.
One grumpy commenter below suggested that I was hindsight trading in this thread but if you look to my update on 24th October I did show a chart from the 25th September that shows the bearish RSI divergence and potential for a bearish shakeout (SRP) through the 200MA and I took profit in that area.
And here it is again:
There were updates before highlighting that there would be a gap in content and I did that to show you guys so you would be aware and not left in the dark, but apparently it wasn't obvious enough as some of you didn't realise.
So anyhow, the bounce became a shakeout that has now been followed with bearish momentum candles.
And so sadly this little sweet spot of a double Fibonacci landmark that was the reason to buy TLRY and make this thread did not show the start of an uptrend but only a small pull back before going lower.
It still hasn't gone below the low so it could recover but it looks bearish.
And although there was a brief moment where there were big pumps in the weed market, those gains have now largely been engulfed with bearish action and the market looks bearish and probably heading much lower.
Here is Aurora - had an enormous pump but it got eaten up in a short amount of time
And Canopy not quite as bad but much the same.
Much better trades in other markets - see my EPIK thread today for details.
Bull Market Group 🐂
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Priority trades, round the clock updates and a 1 hour technical video per week 😼.
Make gains, learn technicals 🚀.
$50 per month 👍🏻.
Contact: t.me/dRends35