Hi all,
Sorry I’ve been quiet, but I’ve been under the weather the last couple weeks. For today’s pre-Powell post, let’s take a Prospero short-term bull that is flat today. Since something was posted in the Discord about META 0.00%↑ breaking out at the open (which did not happen), let’s look at why and where we could maybe make some money on this.
Here is META 0.00%↑ , clearly a Prospero Bull.
But, it’s not been acting like a Bull today.
Of course, we know a lot could possibly change after Powell today. What I will do is apply Fibonaccis to the chart and look for an entry.
Applying fibs from the pre-market high to the low of the day, provides us with some insight. Right now I am focused on the green line 38.2%. If a candle closes above this line, I will look to go long. Below this line I would look to go short and trim at the orange line at $506.53.
Considering META 0.00%↑ is a Prospero short-term bull, my preference would be to go long.
If I make a trade, I will post that trade in the Discord