0KF3 trade ideas
PTN at a Crossroads? - Will The Bearish Pressure Continue?If the support at 0.811 can hold I Am looking for a continuation in the upward channel but a move below that support to 0.75 into consolidation. I do see the bearish engulfing candle forming on the weekly chart and therefore am on the bearish side of this bet.
Is this a dream or could this be reality? Long term entanglementWhile all short term indicators and indeed weekly and monthly long term points to 1.11. We have seen Ptn has untangled layers of structure with break out after breakout in descending wedge. The most pivotal recently broken. Monthly targets here range from 1.68 - 2.08 but in current structure there could actually be a chance to catapult to $4-$7. I expect this structure may not hold but you can see nonetheless that all movement points way higher on the daily, weekly and monthly frames. The untanglement is pivotal
OBV breakout on monthly and weekly. Earmarked 1.08-1.12Using OBV as a leading indicator on longer timeframes. The OBV has broken out on monthly and weekly timeframes. Surpassing the OBV at 1.11. In In current movement on monthly and weekly timeframes, this areas has been earmarked as the next area of polarity to pull the price upwards.
$PTN HigherEarlier this year i picked up some $PTN at .41
took from some of my port's losers to throw more at this big winner.
Getting some respect of the 50% fib here; As y'all know the concept of 50% is critical to ichimoku, HA candles, etc.
Also getting some bullish jpn candlestick patterns with volume trending in that dir. via OBV and Volume Trend Accumulation Index
Volatility rel. low as well.
Hoping for this ~3:1 RR to play out, manage your risk as no trade is without risk :)
GL HF
xoxo
sn00p
PTN short, then long. I see the beauty in this chart, the moving avreages aline with my technical analysis on the daily that this is a pretty obvious short, have buy orders at .95 and then perhaps at .75 for a easy profit long term investment in the making. They will either touch, go up, then come back down before a nice impulse. Happy trading.