EMH forming a tightening range and offering double daily inside bars to play off of as a potential early signal, with a higher risk / higher reward potential. Need to see over 1 million shares traded on any break of the current channel to tell me this break could be going for multiple daily levels.
EMH consolidation is on decreasing bear volume but it's a larger pullback than the bulls would hope for. At this point the most likely scenario would be a daily lower high and a tightening equilibrium, once the new daily support level is found
After a huge run up, EMH has consolidated in a very healthy manner on the daily time frame forming a 4 hour equilibrium. Last lower high is 4.54. Entry at 4.55 with a stop below 4.37 or 4.28 more loosely. Measured move is 6.71, but first resistance will be the last daily lower high at 4.97. Even with just 4.97 as a target, R/R is 2/1 for this play. If it starts to...
EMERALD HEALTH THERAPEUTICS INC TSXV EMH
Watching current price movement. Correction might not be over but price direction looks promising. Trade active since $5.50.
Disclaimer - Novice trader learning technical analysis and posting ideas to learn. Please don't take this as financial advice.
EMERALD HEALTH THERAPEUTICS INC TSXV:EMH - CORRECTION OVER?
According to my current count of this cycle we are finishing wave 5, third wave was the longest and 1 and 5 are very close. I'm currently looking at a ABC correction finishing, although it only reached .5 fib level according to this count. Could correct further to the $4 level. Holding out on buying...
On this daily chart we can clearly see triple test of the monthly Resistance #3. Currently, the price is moving sideways between the resistance and support, which is provided by 23.6% Fibonacci Retracement.
Now, this setup provides us a great opportunity to buy this stock at retracements, which will use MA/38.2% Fibonacci Retracement/Fibonacci’s trend line/50%...