Panjang
CGC $12-$13 Bottom
Been calling $12.5 for a couple weeks now, and a few things making this setup perfect.
1. It's reaching this level in extreme oversold conditions
2. Overall market on fire at ATH rn.
3. Santi Claus is coming?
Looking for a really nice monthly bounce. Below are my targets, and whether or not I take profit at 1 or 2 depends on how we get there.
Target 1 = .382 Fib of the drop from ATH ~ $23
Target 2 = .5 Fib of the drop from ATH ~ $27
Target 3 = .618 Fib of the drop from ATH (Main Target) ~$33
Risk:
Will be scaling into OTM APR options to maximize my R/R, and taking on 100% risk, as I am confident we WILL get a bounce at some point soon because of how extended we are. Wheter it's $13, $12.5, or even $10 it doesn't really matter, I'll just have to lower my targets.
GL to all my MJ bulls. Better days ahead.
-ill
1. It's reaching this level in extreme oversold conditions
2. Overall market on fire at ATH rn.
3. Santi Claus is coming?
Looking for a really nice monthly bounce. Below are my targets, and whether or not I take profit at 1 or 2 depends on how we get there.
Target 1 = .382 Fib of the drop from ATH ~ $23
Target 2 = .5 Fib of the drop from ATH ~ $27
Target 3 = .618 Fib of the drop from ATH (Main Target) ~$33
Risk:
Will be scaling into OTM APR options to maximize my R/R, and taking on 100% risk, as I am confident we WILL get a bounce at some point soon because of how extended we are. Wheter it's $13, $12.5, or even $10 it doesn't really matter, I'll just have to lower my targets.
GL to all my MJ bulls. Better days ahead.
-ill
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.