Wedge formation happening, with channel still somewhat intact. Earnings just happens to be when the wedge breaks out ---------> up? down? Who knows, but with the current environment one can only speculate.
Many are bullish here, and options appear to follow suit, though the best wait to play this is a strangle or straddle option strategy. WHO CARES which way it...
My previous chart showed a false breakout downward and an advance upward. Is the upward breakout false too? We definitely have to remain flexible for any possibilities.
First setup a possible A.B.C.D.E Elliott pattern correction AND a possible head and shoulders formation on the hourly chart with a neck line around $61
I've labelled two possible scenario's
1)...
Good quarantine all,
appears as though staring at my computer all day definitely makes me want to draw patterns, so i drew a few. And one for the badboy LTC.
Appears as though we have a fib retracement back to the 50% on sweet ol' valentine's day. And on that long way down, it bounced around the 5 waves of the Elliott and possible doing a zig zag Elliott...
Good day all,
As I posted earlier there has been a nice Elliott pattern forming with the last leg developing.
Further to this, a triangle pattern has emerged and has broken out with a gap downwards on daily. Generally speaking, the target distance is the widest part of the triangle which lands just around the $40 mark. Further confirmation to this is the...
AS THE MARKET BEGINS TO TURN, A PROPER RETRACE OF PRICE IS ACHIEVED AT THE 50% FIB LEVEL. A, B ,C FORMED AND CURRENT NEW ELLIOT 5 WAVE ABOUT TO FORM WITH TARGET AT 38.2% EXTENSION OR FURTHER. GREAT RETRACE TO FIB LEVEL 50% LAST WEEK FOR AN EXCELLENT BULL TRAP.
THIS IS FURTHER COUPLED WITH USA LOCKDOWN WHICH ACCOUNT FOR 65% OF THEIR STORES. DEBATABLE IF ANY FLOW...
