Hey traders,
Here's a quick scalp trade although I love $ACH and have a large bag, this looks like a no brainer for a quick 8-9% upside. We could break through the resistance and consolidate along the downward trending resistance (that would have then turned as support) forming a bull flag and potentially setting up to head higher.
The bearish possibility is that we head up to hit the .122 area and get rejected off the trendline and head back down to complete an ABC putting us around .087, I don't think that will happen but it's on the table. If it drops to .087, I'll be loading up the truck with as much as I can buy.
Please trade based on your own analysis, this is simply my thoughts on the market. Do your own research, I am not a financial adviser and this is not financial advice.
Cheers!
Here's a quick scalp trade although I love $ACH and have a large bag, this looks like a no brainer for a quick 8-9% upside. We could break through the resistance and consolidate along the downward trending resistance (that would have then turned as support) forming a bull flag and potentially setting up to head higher.
The bearish possibility is that we head up to hit the .122 area and get rejected off the trendline and head back down to complete an ABC putting us around .087, I don't think that will happen but it's on the table. If it drops to .087, I'll be loading up the truck with as much as I can buy.
Please trade based on your own analysis, this is simply my thoughts on the market. Do your own research, I am not a financial adviser and this is not financial advice.
Cheers!