TWTR. Buy Twitter shares but at a right price
I stopped following Twitter at some point of time but I´ve been curious on, after all the news bombardement and price movement we had in 2016, what price we may expect in 2017?
I found a very interesting setup: on first place, we have an ascending fork (labeled green) where the Median Line hasn´t been reached. Therefore, as per Hagopian´s rule, the price should go as low as the Hagopian Line which connects two extreme minimums of the Fork in question. This would give a retracement to 13.30 area.
Then I built another Fork (labeled blue) and found my target price area of 13.30 is very close from the bottom line of this fork.
Finally, I tried to see if there were any harmonic patterns and spotted a potential Cypher pattern, which lower extension coincides with 1.414 Fibo level and the bottom of the fork labeled Blue, very close to the Hagopian line.
As a conclusion, my trading setup is:
Long Twitter shares at 13.30, with a SL placed at 10.35 and targeting the completion of a Cypher pattern at 22.20. If shares go to 12 and 11 area, I expect to be able to add longs gradually at new historical minimums.
I found a very interesting setup: on first place, we have an ascending fork (labeled green) where the Median Line hasn´t been reached. Therefore, as per Hagopian´s rule, the price should go as low as the Hagopian Line which connects two extreme minimums of the Fork in question. This would give a retracement to 13.30 area.
Then I built another Fork (labeled blue) and found my target price area of 13.30 is very close from the bottom line of this fork.
Finally, I tried to see if there were any harmonic patterns and spotted a potential Cypher pattern, which lower extension coincides with 1.414 Fibo level and the bottom of the fork labeled Blue, very close to the Hagopian line.
As a conclusion, my trading setup is:
Long Twitter shares at 13.30, with a SL placed at 10.35 and targeting the completion of a Cypher pattern at 22.20. If shares go to 12 and 11 area, I expect to be able to add longs gradually at new historical minimums.
Commento:
Shares going down while the market renews All-Time-High values. No good...
Ordine annullato:
No entry point as price reversed earlier than expected =( Looking for a development now
Please, follow your strategy! Always!
If there is no strategy that has proven itself successful, please do not trade with real money!
If there is no strategy that has proven itself successful, please do not trade with real money!
