ROBINHOOD - $HOOD - Cycles Study / Profit taking / Monthly Chart

ROBINHOOD - HOOD

✅868.40% unrealized profit to date.
🖊️Average Buy In: $13.74 / Price Today $144.90
⚠️Looking to extract some profit and consider re-entry

▫️ We have hit the 1.0 Fib extension level resistance.

▫️Since up thrust, cycles bottom to bottom 8 - 9 months

▫️ Top of right translated cycles (green) have been 6 - 7 months. We are in a month 6 now. Probable move down into month 8 or 9. Month 7 to decide direction. Left translated cycles are in red.

▫️ I will remove 30% position here and re-enter on a visit of 10 month moving average and bounce. TRADERS CAN ENTER FOR BOUNCE FROM 10 MONTH SMA.

▫️70% to remain allocated, in case of further upside in the event of no 10 month SMA revisit in month 7 - 9.

▫️ If the 10 month moving average does not hold and is lost (first warning).

▫️If the $87 level is lost on a weekly close, I will exit full position.