The president of USA has issued a pardon for marijuana use nationwide. This is bullish and can start a new trend into 2024.
Weekly breakout since bearish downtrend 2 years ago.
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Happy Saturday to all traders! I Respect the GRIND. Today I happened to take a look at Cannabis and the chart looked fantastic, let me know what you think:
1) Cannabis has been in a rising wedge pattern, which almost always shows a upcoming breakout. It is also at the end of the pattern, so it should happen soon.
2) Secondly, 20 day SMA crossed above the 50 day....
Hey traders, in the coming week we are monitoring CANNABIS for a selling opportunity around 1950 zone, once we will receive any bearish confirmation the trade will be executed.
Seeing the growth and innovation that has occurred in recent months shows that the big wave is incoming. This formation clearly refers to pull back and bottom. Even one of the most conservative countries of Europe; Poland has given the Market Authorization to Tilray, Inc. (TLRY). Also, the election vibe has been taking charge of global media, federal legalization...
FXCM's CANNABIS basket is in the bullish area on the daily chart on the left. The hourly EMAs and stochastic are in bullish mode and potentially align short-term traders with the daily. The stochastic has moved into the upper quintile, and maintenance of this level (blue arrow) increases the chance of a successful trade. Trend following indicators may be useful in...
I have just closed a very profitable long on the cannabis index. This can only go up in the long run but I had to secure the profits. I am looking for this to retrace to between 0.5 and 0.618 Fibonacci before entering long again. It is very overbought on RSI across all timeframes so a correction needs to happen soon. Long term this will break all time highs (these...
