This chart shows a number of possible directions that price could take and is meant to spawn multiple trade ideas. I firmly believe in diversifying positions and trade ideas within the holdings of one individual asset, but I posted up an example with targets for a long trade that will help to manage risk by utilizing major resistance, as well as Fib levels, the Gann Fan (always a 45 degree angle), the Stochastic, and the Awesome Oscillator. I also tossed in an Elliott Impulse wave on the big spike so that you can see how you might trade a big breakout and know which phase you're in during the trade. Regardless, your satisfaction with this trade idea will depend on your fundamental views of auto-manufacturing. If you think American auto manufacturers are going to get crushed, don't buy it. I do not believe that that trend will continue on a long term basis. Happy Hunting Everyone.
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Hey Hunters, If you took this trade at market and closed it out RIGHT NOW you're up 10%, I always tell my viewers to take some profits before they evaporate, this case is NO DIFFERENT, it's not the 100-500% profit that you can get in the digital asset space, but don't be a greedy fool! In order for victory to be yours, you must claim it! Keep Hunting.
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As I predicted last year, there was a small pop. If you closed this trade at the top, you made about 30%. But most people don't close at the top. You could have made 1000's % return in the digital currency space. Go read a book about bitcoin, if you're only trading traditional equities your money is sleeping on the job instead of working for YOU.
