This is for entertainment and personal development purposes only. This is not Financial advice. Practicing my own TA. FB and likes are appreciated.
According to ocil8rs, things are looking extra bearish. Marijuana legalization by the federal government is closer than ever.
Supports: Purple line could be a new support. New low that was a previous high long ago could be new support @ 5.74. Golden area of the Fib could be support & reversal. All Orange Lines. 20, 50, & 200 Line.
Targets and Resistance in Blue.
My idea for a trade.
Entry point: anywhere below the .5 Fib Retrace.
Summary: There are a lot of supports. Thus, if it goes down, which is likely in my opinion considering the bearish high prices and oscil8rs, it will likely match with one of the many supports identified. Marijuana may be legalized federally very soon, a lot of potential to move up. After a small bearish pattern occurse, I may buy in.
According to ocil8rs, things are looking extra bearish. Marijuana legalization by the federal government is closer than ever.
Supports: Purple line could be a new support. New low that was a previous high long ago could be new support @ 5.74. Golden area of the Fib could be support & reversal. All Orange Lines. 20, 50, & 200 Line.
Targets and Resistance in Blue.
My idea for a trade.
Entry point: anywhere below the .5 Fib Retrace.
Summary: There are a lot of supports. Thus, if it goes down, which is likely in my opinion considering the bearish high prices and oscil8rs, it will likely match with one of the many supports identified. Marijuana may be legalized federally very soon, a lot of potential to move up. After a small bearish pattern occurse, I may buy in.