Cup and Handle target 2970

Alternatively could break down into head and shoulders as shown in my other post.

Trade active

looking good. target sell area is the 64 RSI on the daily candle is where it will meet a bearish divergence line. They may correspond perfectly with the price target of 2970 here.

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Assuming we've peaked for the day, a new 4H bearish divergence line is drawn showing we should have a small fakeout above the immediate 64RSI or sideways from here with the top being tested and failing no later than may 6

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Here is the 4H divergence line I drew a higher price peak with lower RSI peak provides future resistance zones to scalp

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We're also looking at an ascending broadening wedge. A touch of the top will be around 3100 max. I'm going to unload my stonks before then but definitely buy puts there because a breakdown should offer buying opportunities around 2700.

Trade active

I've deleted the 4H bear divergence line I drew today because we suprisingly didn't peak yet and have entered parabolic retard rally. I've dumped 25% of my stonks in the aftermarket a massive squeeze is highly probable, with rebuy targets here, mostly weighted for the 1H 26EMA as it coincides with the bottom of the channel

Trade closed manually

Day has opened well below the channel. The daily RSI has clearly rejected off resistance. I have gone short with a target of 2700

Trade closed manually

So I went long into the ambiguous close as the 4H RSI is at a support level, the 12H candle has found support at the 26EMA, the wave configuration is still higher-high/lower-low. The mid-day pump of virgin galactic shows the bulls still have a strong hand in this and are merely allowing the price to come down. So we should see a little relief rally monday before further down, if there is further down.

Trade active

This 6H candle found support where I expected, a little overshot from where I actually traded. Expecting to see a test of the 2850 resistance. I'll sell calls there and see what happens.

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Trade closed: target reached

2850 target reached, awaiting confimation of continuation. will short a rejectiion

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RantingPatriarch

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RantingPatriarch