SPCE Ascending TriangleSPCE launch window starts on Friday. Could be a great catalyst play with this ascending triangle this week.
Trade ideas
[SPCE] Fractal Theory is Incredible... Don't Believe? See THIS!Just updated the purple downchannel as a fractaled iteration of my first one and sure enough it aligns exactly, both at the mid point and the top.
I closed 1/3rd my position for >100% ROI, will rebuy more than I sold when it gets lower.
See the OG idea that called this peak exactly on the mufckin money...
SPCE is a Goldmine in 2021 www.virgingalactic.com
Dec 11th is a major deal! This is the 1st of two test flights until they "Have a go!" and send real passengers into space. The list is long with a lot of Billionaires :) at I think $250K a head WOW!
"Before passengers climb aboard the suborbital space plane SpaceShipTwo, the space tourism firm will send at least two powered test spaceflights aloft from New Mexico's Spaceport America, where the company moved earlier this year."
SPCE 3 month trend channel breakout +10% todaySPCE is up +10% today, breaking out of it's 3 month trend channel. I entered a SPCE$30-31strangle12/11 at 11am when it was at equilibrium $30.50. I have traded SPCE a lot and a word of caution here, it is a very volatile stock. Do your own due diligence, your risk is 100% your responsibility. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Small incremental steps work : If you double a penny for a month it = $5,368,709. Good luck and happy trading friends...
*3x lucky 7s of trading*
7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue
Earnings
Balance sheet
7 Common mistakes:
+5% portfolio trades, risk management
Beware of analysts motives
Emotions & Opinions
FOMO : bad timing
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors
7 Important tools:
Trading View app!, Brokerage UI
Accurate indicators & settings
Wide screen monitor/s
Trading log (pencil & graph paper)
Big organized desk
Reading books, playing chess
Sorted watch-list
Checkout my indicators:
Fibonacci VIP - volume
Fibonacci MA7 - price
pi RSI - trend momentum
www.tradingview.com
Cup and Handleall time high is 42.49..Caution: overbought on daily rsi set at 80 and 20/9 day moving average..not OB on monthly or weekly yet..
Hammer on monthly and weekly..
Possible stop below HL/handle low or mid cup which is 21.20
Not a recommendation
NV (volume on down days) and PV (Volume on up days) are both high as is OBV..
No RWs in yearly chart..
Short interest is very high...36% or more depending on where you look..seems the shorties are counting on this going down
BTC overlay on SPCEBTC overlay on SPCE...
not saying this will playout.. just saying i noticed this shape this summer on BTC and now seeing it on SPCE again
$SPCE Big catalyst friday, 11/12 29C @1,40$ @SPCE
- 29,57$ is the resistance in the intraday.
- With a big catalyst coming up on friday, volume will be at rendez-vous we'll see.
- 1st entry : a break above that previous fractals at 29,22$
- Safe entry : 29,60$ break
- Afetermarket : 28,90$ up .56%
- Looking at 11/12 29C @1,40$
- SL at ,40$
This could be a chicken dinner for early christmas.
- Cloas above MA20 (bullish)
Potential breakout in SPCESPCE is also ready to make a move. Let's see if the market support the direction
ascending triangle, double bottom - two scenariossee arrows. long either way with dec 5 falcon 9 launch.
Nice resistance not enoughWe are trailing right under VWAP but nearing the breaking point of the resistance I dont know if they can resist one more day below $30
SPCE: ALL SUPPORTS AND RESISTANCESNYSE:SPCE
Here is the chart showing all Fibonacci levels .
What now?
Three different scenarios:
-1. consolidation at the current level, and bullish continuation to 40 in a few days.
-2. Immediate bullish continuation.
-3. We pull back to retest the orange line.
From a technical point of view, my opinion is that we will retest the orange line before going higher.
From a fundamental perspective, December is a bullish month for stocks and SPCE could announce the date of its test flight very soon, which would send the stock to the moon.
What's your favorite scenario?
SPCEField Goal Pattern;
Don't like to use it at the highs but I'll give it a shot, it wants to test the highs looks like!
Let's see if we can score....; )
