TTD had a strong dip of nearly 18% over the last 4 days, retracing 62% of the recent swing up and looks to be finding support as it closed with a pin bar candle. The odds that it is done pulling back is high now that we are also seeing a potential bullish divergence between price and RSI.
Long if it is able to rise above the hi of this pin bar (@ 840.30) with initial stop loss slightly below the pin bar low @ 796.
Looking to scale out partially at least as it approaches the last high at 972 and protect the rest of the position with trailing stops
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you. Feel free to give me your thoughts ! :)
Interesting comments here. I am not technical but the dip is tied with some insider selling. I know that the support of 775 was breached today and this is what concerns me for a freefall. What do you think about the overall market shift in general. I am long on this but am considering taking potential profits though, it would be costly come the estimate of 3500 price in the future I believe it can take on in say 5 years.