This magical strategy works like a clock on almost any charts
Although I have to say it can’t predict pullbacks, so I do not suggest this strategy for leverage trading.
It will not give you the whole wave like any other strategy out there but it will give you huge part of the wave.
The best timeframe for this strategy is Daily, Weekly and Monthly...
Big money could be flowing into Pinterest. My target is $71.86, same as the analysts target. Short term target is $60.35 but long term is $76.97 and $80.28. For the $80.28 target I do think its a little unlikely to be reached
$PINS buy. Targets - 85, 125, 143, and the last is 319. There was a big volume on Oct 26, 2020, probably buyers will try to defend their position and buy the dip in the range 37-54.
In rectangles, I highlighted good buying prices that we may not see.
Not financial advice.
PINS' chart has only seen a Bullish Engulfing (BE) pattern on 4 instances since it has gone public.
1) The first was at the beginning of January 2020 - the stock rallied from $18.88 to $27.10 by Feb 7th, 2020. (43.5% increase)
2) The second was at the end of March 2020 - the stock rallied from $14.92 to $21.59 by May 5th, 2020. (44.7% increase)
3) The third was...
Keep your trading simple 🚀🚀🚀
This one is more a speculative trade.
T1 = minimum risk reward 1:1
Mind term target $20.6 - Closing gap.
Entry was on the crossover.
I always leave 1/3 of my position for long term gains - moving my stop to my entry if I need to give room for the volatility or using trailing stop for maximum gains.
For maximizing your profits...
This is crazy but I want to try this. My winning probability is lower than 15%. I am going to risk no more than 0.25% of my account in this trade. No gambling. Maybe i should buy some OTM calls.
PINS LONG SETUP:
Stop-loss: $18.04 ($1.49 per lot)
Take-profit: $32.95 ($13.42 per lot)
Risk to reward: 1:9
Probability: Less than 15%