So for those that were patient and were following my last post about ABNB I just got an alert that it finally broke the IPO day high.
At this point there are different ways to structure a good trade both in terms of entry and in terms of risk.
Entries:
Take a breakout now... this is for the FOMO traders out there that are afraid of missing the move! (I find this to be a poor method in general)
Wait for a pullback to the level proper.
Now that there is some established prior price action one can setup stops at technical levels either below the last swing low or the all time low. This is very helpful in structuring your risk and position size. Good luck!
I set an alert after reading your prior post and thought, son of gun... It didn't take a whole lot of patience and happened pretty quick. But it close under the IPO high so I'm kinda scratching my head about whether it's even been established as a support/resistance level as of yet.