Unique target systemWhen I was first learning technical analysis, I discovered something novel. I had never seen anything like it, but I was new to trading and figured it was a fluke. But now I’m all in.
Nothing is 💯. But check this out…
If an asset trades in a CONSISTENT UPTREND CHANNEL and then breaks down from that channel, do this:
1. Measure the vertical height of the channel
2. Use that vector height and move it to the exact spot where the asset broke down from the channel
3. The bottom of that marker is the target
This worked nearly perfectly on BABA and also on several other charts. I haven’t needed to use it lately bc everything has been on an upward trajectory. Now that there may be some downside moves, I’m definitely checking this strategy on each chart.
Caveats:
If the uptrend isn’t consistent, it doesn’t work.
If the downside target is totally unrealistic, it prob won’t work.
Crypto— BTC especially—moved down 1/2 of the channel height on prior moves.
I always use volume to help guide my moves. If the downside target is hit and no volume comes in, I’m just gonna watch & wait.
