So after posting several TLRY charts with a consolidation pattern that offerred time to buy the pullback, TLRY breaks the 11.59 price level given and takes off. Currently at our 21 level, we don't think it holds and this will keep going to 38.25 at a minimum. Boxes shows price levels according to fib levels, but if a very strong wave could just keep extending. ...
Look at the nice steps for OGI. Should hit the first box at least to 2.94. Follow the yellow (orange) brick road to higher levels. This, along with the potstocks sector looking for a huge boost. Wait for legislation to be anounced for a major gap up. A lot of front running right now.
Here's my take on linkbtc....level to watch for trimming or taking partial profits. Missed the BTC run? Here's a chance to stack sats with link. Fibs line up nicely with previous resistance/support levels.
USDMXN has been in a deep move down and now has a what might become a potential bottom. Breaking the trendline (points where it tested are circled in red) would be a good signal...looks like the trendline with the fib line (orange horizontal line) might be the intersect, around 20.25. By breaking, we would like to see a daily break and ideally a weekly break above.
CRON makes a nice impulse bottom forming pattern off the 4.62 level. Five up, following the pattern we were watching and trading. Major support at 4.00, with this making a tasty 1-2, i-ii to trade. Now it's decision time, as we are watching both an ABC correction pattern targeting 7.23 price zone that is around the 38.2% retrace off the 4.62 low to 9.15 high. ...
TRLY continues to consolidate before it´s next move. We remain bullish on this #potstock, along with the sector. Levels to continue watching are 6.66 on the downside. Break of that and we have 5.33 as next zone. On the upside, a strong break of 11.60 will bring us the rocket ship, a confirmation of the bullish trend and wave 3. Keep it mellow my friends.
USDMXN has been sliding lower knocking fib levels one by one. This week the last one was taken, leaving us with two supports before it retest the lows before we got a strong implusive move up. Those two supports are 19.76 and 19.61 (red lines). Be on the look out for an impulsive move up before going long as this pair has punished all long for a good...
So CRON went up on election results to 8.80 on rumors that a Biden administration will move cannabis off the schedule 1 list. For us, just a wave 3 extension. Called for a retracement into our box area of 6.45-7.00, and hit it squarely! Now we are following a move over it's wave 3 end (8.80), targeting 9.11. Under 6.09 invalidates the pattern we are following,...
TLRY shoots up on election results, then gets a positive earnings report (they made money instead of losing!). As per our pattern, it is holding. Our wave 3 extended to 12.14 and now looks like it's in its wave 4, opportunity to add. 7.11 invalidates the pattern, so eyes on that level. Also looking for RSI to curl up and respect our line.
OK so another that took off on the buy the rumor is $CRON. Rumor has it with the results of the Presidential Election that the new Federal government will look more favorable towards cannabis and take it of the Schedule 1 drug list. As per our pattern, CRON got its wave 3 all the way to our wave 5 target around 8.13. No matters, extensions happen. If 3 is...
Following our pattern to a T! With the results of the Presidential Election eyes to turn cannabis stocks as potential moves in the Federal guidelines for schedule 1 drugs might change. A buy the rumor type event IMO. Welllllllllll, if you bought the pullback like we suggested you got your money's worth. Pattern called for a nice dip between 5.17 and 5.71...
Ok, got our upper level and our pullback. Now where to buy...typically I would be looking for divergences in RSI and MACD along with a lower price for the sweet setup to buy. Price should be in the "box" or between the 61.8 and 38.2 fibs...and with a lower price we should have higher RSI and MACD. So now, this "should" be an A wave, with a B wave higher then a...
TLRY did not disapoint and is now making a correction. Correction should be between 5.17 and 5.71, lower than that and would put the pattern in question. Also like the volume distribution in that level of pricing, should be great support. Buy dips or sell short term dated calls and collect premium!
TLRY doing what it has to do...here's an updated path shorter term to what we should be looking for if it is going to blast off. On the look to moves to the 1.0 fib extension (around 5.55)....if it gets there and fails, sign of a corrective move. Above it to the first box, good news.
After yesterday's strong move off the highs (that we called a double top), we recommended taking on hedges for a possible bounce. NQ delivered it's overnight bounce to the 11418 level that is the 61.8% retrace of the move down. Now removing hedges and/or adding short positions. Eyes on the 76.4% fib level, above that something else is in play and the trade...
Coming to a potential double top and the 61.8% from the move down (at 11466), adding shorts here. Looking for a plunge down in quick fashion.