I've seen this pattern multiple times, but how well will it follow this time? If this continues to play out, I'm expecting:
- Short consolidation around the previous bottom (red box)
- Dropping a bit further to form the actual double bottom (white box).
- Rally to resistance (yellow box).
My target bottom range 6300-6500 also happens to align with the CME gap.
Either this is going to zero or we bottomed; I would like to believe we bottomed. Take this or don't. I entered this yesterday with an entry of $20.99 (~7%+ already).
If you saw before, $TLRY jumped from $20-$300 (~1400% gains) in just about two months. Definitely one to watch.
I mainly made this for myself since I've been seeing a lot of similar patterns, and decided to share/publish so I would be able to track (load new bars) as time goes on.
Discord: DM for link