AlphaBotSystem

TILRAY; Going Up... or Going Up in Smoke?

NASDAQ:TLRY   Tilray, Inc. - Class 2
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Yoooooo, what is up family? Tilray has been bearish since its epic run back in 2018. That said, we are finally seeing some green here (pun intended). Looks like we are about to get a confirmed uptrend, let's break down the logic behind our Tilray strategy.

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STRATEGY USED:Momentum Mover
Trend Confirmation = Fractal Trend
Entry Signal = Breakaway Scalper
Exit Signal = Breakaway Scalper OR Orderblock Mapping

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1. Fractal Trend is showing downtrend (Red background color) for TILRAY on the 1 hour chart. That means we only take short positions based on Breakaway Scalper (Red bar color) until that changes.

2. Fractal Trend is attempting to close Green, which will signal an uptrend. That will mean we are cleared to take a long position next time Breakaway Scalper signals an uptrend (Green bar color).

3. To the downside we will be looking for reactions at the bullish order blocks at S1, which price is currently testing, and at S2. If we go lower than S2, then that and it would simply look like a continuation of the downtrend for Tilray .

4. To the upside we will be looking at the bearish orderblocks at R1 - R3 for resistance.