Pandora Media- A Possible Trade For The Near Future
Friends,
Before this becomes a viable trade, we want to see a higher open and continued bullish buying. A break above 17.08 would be bullish ultimately. We've seen bottoming behaviour, looks like price was rangebound until recently where we've seen a breakout to the upside. It looks as though the consolidation phase has completed and bullishness is a possibility.
I hope this can also be educational material for you guys, it shows how using multiple timeframes can be helpful in finding precise entries for your chosen stock.
1st chart is weekly
2nd is daily
3rd is hourly, the trade execution chart.
Remember, the more perspectives you have of a stock, the clearer picture you have about the stocks future price movements.
This as a trade itself is possible too, although I've really done this to focus on the educational side of things, and the trade outcome isn't as important as the education I am trying to portray to you.
Thanks,
Tom
Before this becomes a viable trade, we want to see a higher open and continued bullish buying. A break above 17.08 would be bullish ultimately. We've seen bottoming behaviour, looks like price was rangebound until recently where we've seen a breakout to the upside. It looks as though the consolidation phase has completed and bullishness is a possibility.
I hope this can also be educational material for you guys, it shows how using multiple timeframes can be helpful in finding precise entries for your chosen stock.
1st chart is weekly
2nd is daily
3rd is hourly, the trade execution chart.
Remember, the more perspectives you have of a stock, the clearer picture you have about the stocks future price movements.
This as a trade itself is possible too, although I've really done this to focus on the educational side of things, and the trade outcome isn't as important as the education I am trying to portray to you.
Thanks,
Tom
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