the only reason I say it may consolidate and touch the 20ema is because I’m using the 20ema as a reference point. I’m new to trading and not sure what moving average works best or if any , but have found the 20ema has been respected in the larger trend.
my average is .061 approx and I’ll be cutting at 7% about .055 and if sold I’ll be looking to re enter when another break out (pivot point) is identified.
this is my first trade using what I’m calling bill oniel cup with handle method because I think I understand it some what.
I’m not going to take an 8% stop loss as suggest in he’s book the max loss illl take it 7%.
this chart (im a noob) suggest that I will most likely sell if and when we undercut the 20ema and not wait until 7% loss (.055)
ideally over the next week or two if like to see very little volume which would tell me not many sellers are coming g to the market as price compresses above or at the 20ema and then followed by very large vol days as said earlier.
how much stock are the bag holders still holding from prior highs? I think maybe a few because some trolls on here for sure but not many on twitter besides good technicians
QPM Price at posting:
6.5¢ Sentiment: Buy Disclosure: Held
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