I mean, I know that hindsight is the most effective tool. But still ... look at this chart and try not to love classical technical analysis concepts and their capacity to protect you from ruin ... let alone their capacity to make you a profit.
Simple, time tested trading philosophy, built on top of price action and technical analysis: trend following.
Long Entry: Nov 2020 at $292.64
Long Exit: Feb 2022 at $580.50
PnL: 98% +
Short Entry: May 2022 at $491.39
Short Exit: Trade open (exit up crossing and closing above the trailing EMA)
Open PnL: 78%+
And I mean, look at the chart, the chart patterns, the candlestick patterns ... the simple technical heuristics like staying away from stocks trading below the 10 EMA (roughly 200 EMA in the daily timeframe) ... not trading against the predominant trend, waiting for confirmed trend reversals to take either long or short trades.
... this implies ZERO knowledge about the fundamentals of this company ... I mean ... maybe not even the CFO of this company was truly aware of the company's real fundamentals ...
Technical analysis is beautiful.
Cheers,
Tenacious Tribe
Simple, time tested trading philosophy, built on top of price action and technical analysis: trend following.
Long Entry: Nov 2020 at $292.64
Long Exit: Feb 2022 at $580.50
PnL: 98% +
Short Entry: May 2022 at $491.39
Short Exit: Trade open (exit up crossing and closing above the trailing EMA)
Open PnL: 78%+
And I mean, look at the chart, the chart patterns, the candlestick patterns ... the simple technical heuristics like staying away from stocks trading below the 10 EMA (roughly 200 EMA in the daily timeframe) ... not trading against the predominant trend, waiting for confirmed trend reversals to take either long or short trades.
... this implies ZERO knowledge about the fundamentals of this company ... I mean ... maybe not even the CFO of this company was truly aware of the company's real fundamentals ...
Technical analysis is beautiful.
Cheers,
Tenacious Tribe