- Repeat Megaphone pattern? - Repeat Megaphone breakout? - Repeat 10% pull back before major move?
If we confidently break through and close above resistance or get a 10% pull back, it could be worth putting in place a position with a stop under resistance or a tighter stop if its the 10% pull back scenario.
We could still revisit the 200 Daily SMA... and we need to be aware of that. That's why you have a stop because the 200 DSMA is idyllic but given the similarities of this pattern, it could play out and it might be worth taking a position SUBJECT TO having a tight stop under the resistance level (once we break above it) or having a tight stop under the 10% decline entry.
It will be interesting to see how this chart plays out. It could hardly be as exponential as 2019? but it could be a nice move.
So you're thinking 5X by end of the year comparing to 2019 using percentages? Super bullish!! I hope you're right and I guess anything is possible
scottboy
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This is looking more and more viable
bilhas86
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Good work , i hope this works out now its 10% down and trying to move up again. Amen
PukaCharts
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@bilhas86 it will be an incredible trade if it works out. i love that we can just place a stop at the recent low now. I mean, it's safe and worth a pop.
Captain_Cam
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This was a great possible comparison
PukaCharts
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@Captain_Cam no guarantees but it does look incredibly similar.
PukaCharts
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No but I expect continued upwards proce momentum if we can establish support on the over head resistance. we first need to break through it.
We just had the 10% pull back.
let's see what happens next.
I'd like to see a break above the resistance.
enter trade and put stop under resistance
PukaCharts
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isn't it just, if we did break through the resistance I would expect a lessor % move than 2019 or maybe im thinking I would take profit a little earlier than 2019. that's the next challenge if this plays out. where to sell.
hitchcoxg
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Excellent Work and Study !! Are you looking to $600 ??