Long
Loop Insights - Hope You're Not Short!
I don't know much about this company or if it's legitimate. To be honest, I have skepticism about anything resembling its business model, specifically, anything that's supposed to become big as a result of the hysteria around the Wuhan Virus pandemic.
However, I'm a big believer in leaving the technical analysis to the savants at the large firms and letting it reflect in price action.
Loop has a long-term weekly triple top at 0.700. Whales are about to seek out and crush this liquidity. It may or may not go higher, but that is completely irrelevant.
It was best to have bought inside the consolidation. However, now that MTRX has shown a willingness to trade higher, the reality is that any short sellers below the previous 0.47 high are sitting with a bullseye on their head and are about to get liquidated.
You can trade long with a stop around 20c and a decent RR of 3+
However, I'm a big believer in leaving the technical analysis to the savants at the large firms and letting it reflect in price action.
Loop has a long-term weekly triple top at 0.700. Whales are about to seek out and crush this liquidity. It may or may not go higher, but that is completely irrelevant.
It was best to have bought inside the consolidation. However, now that MTRX has shown a willingness to trade higher, the reality is that any short sellers below the previous 0.47 high are sitting with a bullseye on their head and are about to get liquidated.
You can trade long with a stop around 20c and a decent RR of 3+
Note
A pull back to 0.295-0.31 can be a very good buying opportunity here. But be careful, because there are great dangers in the market at-large because of the US Election and Trump contracting Wuhan Pneumonia. A wipeout can come at any time. I would also recommend moving your stop up to 0.25c. The turn around from 0.425c can also be indicative that new lows are being sought. After all, this company makes no money and has no institutional holders.
Note
I expect Loop to run 0.82 at a minimum. But, now that it's ran 70c I'd very strongly suggest you sell at least half of your position and lock in some profits. The overall market is not going to last. All of the moon is fake because it was arranged to pump the market on the November 3 popular vote election in advance of the real calamity waiting when the Electoral College meets to actually decide who controls the heart of the world's economy and the world's military in December.
Be extremely careful. What you lose with bull fever this time won't ever come back.
Trade closed: target reached
This call was very successful. You should really be taking profits out of the market and reduce your risk. With Chinese Communist Party bootlick Joseph Biden about to take control of the heart of the world's economy and the world's most powerful military, "The Great Reset" is about to become a reality for mankind, as this path is what you chose for yourselves. Communism always involves rape, murder, disease, and famine. You think you were smart being on "the right side" of "The Plan", but you should have looked at Stalin's purges for reference first.
Good luck, human race.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.