TWITTER BCBA:TWTR printed a double top and had beautiful selloff with strong volume and quick market reaction, i began anticipating a slip to a downtrend , however looking the 1D chart i observe
the bulls pulled a strong bounce off its 2 year uptrend indicating its selloff pressure maybe exhausted.
I have highlighted the trading zone ($27- $46) for the next year and the ascending triangle its currently building up which is bullish for the long term
Trade opportunity is to open a long position when the trendline is re tested . I expect bulls to protect the price around the trendline so i expect a retest to $30.5 then push to fill the large 16% gap at $37.8
This trade invalidates if $TWTR price trade below the highlighted bottom range $25.5 then a short trade should be open if twitter trades below $25. 5
the bulls pulled a strong bounce off its 2 year uptrend indicating its selloff pressure maybe exhausted.
I have highlighted the trading zone ($27- $46) for the next year and the ascending triangle its currently building up which is bullish for the long term
Trade opportunity is to open a long position when the trendline is re tested . I expect bulls to protect the price around the trendline so i expect a retest to $30.5 then push to fill the large 16% gap at $37.8
This trade invalidates if $TWTR price trade below the highlighted bottom range $25.5 then a short trade should be open if twitter trades below $25. 5
Trade active:
we got the retest to $30 .. now lets see if the bulls are strong as they look
Comment:
target of 33.8 has hit . but i have let the trade open till the gap at $38 is closed
ON the LTF i observe a ascending triangle completed with a confirmed break out.. measured move puts target at $33.8.