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SYMC Volatile - Breakout Mode - Slight Bull AdvantageSYMC is at the bottom of a bull flag trading range and in the midst of an expanding triangle. Prices have been volatile the past two weeks, with gaps up and down. Both sides are fighting for follow through. The bulls have a slight advantage because we are near the bottom of a bull flag trading range. The bears need a strong breakout below the 16 higher low. There have been many bear attempts over the past year to break below, but so far have failed (tails). The bulls want a test of the all time high around 34, but need a breakout above the 26 level first. The bull follow through from the Jun 3 double bottom pullback was strong, with consecutive bars and bull gaps. The bulls will likely (60%) get some form of second leg up and test of the 24-26 level unless the bears get a strong breakout below the 18 support. There is always atleast a 40% chance of this happening, but until it does, it hasnt. To learn more about how to determine the directional probability and how to structure a trade based on this with a positive traders equation, please see below. If you found this helpful please like! Feel free to comment or ask questions.
SLong
by tradersmentality
TSLA 60% Bull ProbabilityTSLA reversed up from a failed bear breakout and sell climax. The bulls have closed the exhaustion gap and created several potential breakout gaps around 200. The bulls now have a 60% chance of creating a second leg up and test of the middle of the upper trading range around 300. The bears need a strong breakout below the 180 higher low. The probability of this is 40%. Once prices get back into the 260-360 trading range, prices will once again return to a 50/50 directional probability. If the bulls continue to get strong consecutive closes, and the bears do not get any strong selling pressure, the probability will slightly favor the bulls for a test of the high of the range. To learn more about how to determine the directional probability and how to create a trade based on this, please see below. If you found this helpful please like! Feel free to comment or ask questions.
NASDAQ:TSLALong
by tradersmentality