WISH Falling out of potential Head and Shoulders

Descrizione

⋅ 14 lug 2021 18:29

Broke uptrend line and starting to fall out of its potential head and shoulders pattern. It still could fill in and see a big bounce upwards

Commenti

UNCLRCO

⋅ 14 lug 2021 18:31

Do you recommend a stop loss? Apparently technicals are suggesting a target of 7.70.

AlexMarrero

⋅ 14 lug 2021 18:35

@UNCLRCO, Depends what your strategy is. If you're long on WISH I'd buy around the $8 mark if it reaches there. If you are just wanting some short term gains I'd cut your losses and wait for a better setup

UNCLRCO

⋅ 15 lug 2021 17:48

@AlexMarrero, well I took a pretty significant loss of 15% so now I'm wondering if it's worthwhile to re-enter or if this is a lost cause, and if so, what will determine whether it's worthwhile or not.

HelmeHUN

⋅ 16 lug 2021 06:32

This is not an inverse hs pattern. Unfortunately, it is already invalid. If it were an inverse hs pattern, the second shoulder could not have fallen this much. With this still bullish, Phase 3 of the elliot wave is now underway.

eljay2121

⋅ 15 lug 2021 05:39

You charted an Inverse Head and Shoulder's, not a H&S. IH&S is bullish, H&S is bearish

AlexMarrero

⋅ 15 lug 2021 21:24

@eljay2121, Youre right lol. Typo on my part

eljay2121

⋅ 20 lug 2021 04:45

@AlexMarrero, I think we are look at a slanted IH&S to be bullish over the coming days, if not we see $8

Altro