Pullback levels are so important because they allow you to understand what is happening to the stock you are trading or investing in.
Typically when a stock pulls back and peoples gains begin to deminish or losses begin to mount they let emotions take over and guide their finger to the SELL button.
But, as you can see on the chart and if you watched my don't FOMO into Coinbase video, you know that 80-90% of breakouts retest and we need to wait for that to happen before entering or adding to our position.
I present to you the pullback with levels: I'm 1/2 into my trading position at this time.
Lvl 1: The cup and Handle breakout point once resistance turned support - $283
Lvl 2: Price GAP fill at $273.50
These are the levels to watch and buy if you want into this trade.
All indicators are still BULLISH and we still have a #HIGHFIVESETUP
See previous video attached to this post if you missed the full thesis.
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Keep adding to the $275-$295 dip buying area I pointed out above. Crypto and the market is taking a breather before we go higher.
注释
🚨 TRADING POSITION UPDATES: 🚨
As a trader/ investor you need to focus your efforts on your highest conviction plays. That's what I'm doing
Closed trades: These are still solid and will play out
GOOG NVDLNVDA Some AMZNSOFI
I told you not to FOMO into COIN when it was at highs and since then you and I have had plenty of buying and adding opportunities. Some are freaking out thinking something is wrong or Coinbase is about to crash I'm here to say we are just consolidating right at the retest area of the Cup&Handle breakout area while we are also creating our support on our Wr% Box. No reason to panic.
-CupnHandle pattern with the handle being a Bull flag
-Broke out and retested both and now consolidating before we head higher IMO.
-H5 Indicator is GREEN
-Wr% consolidation box bottom support is finding it's place.
-Crypto is breathing a little before it's next bull run that will be bigger than the last.
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