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Sold at 13700. First time poster here. Plan to contribute more. Also sold my eth at 415. Sold link low 12s.
My algos indicate that the DJI and SPX are going to collapse next week. Gonna sit crypto out in the mean time and watch from the sidelines as hard as it is. It does appear crypto has separated itself from the major markets.
Good luck all. Feel free to weigh in on this if you've got an alternative opinion.
I'm not convinced crypto will escape a mass sell off if in the next week. Of were still at these levels or higher after the election I'll get back in.
Can you go into more detail on this? Authorized as in the can increase the shares later on?
Yah but how does the share increase to 700M go into effect? That was approved in yesterdays vote.
Tomorrow I believe.
Lol I use multiple charts for BTC. Not CGC unfortunately.
I like usd and euro for BTC.
I think ultimately these better earnings are a good set up to go ahead and buy and hold.
Cannibis stocks are notorious for running September october so this should be a good chart priming point.
We are still in the pennant formation. I'd expect a break above 20s going into our fall run. That's what I'll be looking for anyway.
Right now it's a hold for me. I'd like to see us break above 18.50 and form support this week then head for 20s. Of course the line in the sand is going to be 16.70s US. I also expect a bit of down play today as we did theoretically gap up significantly this morning.
Over all outlook moving forward is positive.
I'd be looking for 20s US short term. Look for 18.50s to establish a base of support again first.
Unlikely. No. Looks like it's going to continue its track prior to CRON earnings release. 18.70s US just printed. Meaning if it remains above 18.50s its gonna go 20s shortly.
We held those 2/3rds over the weekend. Looks like the gamble will pay off.
I'm not buying until I see what earnings offer.
Well this was unexpected. Running CGC down to the bottom of the pennant @16.85 right before earnings is a wicked move. Basically we've got a make or break situation here boys. If we don't shot profit monday next stop work be 15.70s. If we are profitable 21s.
Yikes. What a risky trade we have developed here.
Sold 1/3 of my position.
Nah. I'm not gonna buy more.
Well CGC literally just all out dumped to the 200 SMA. Come on markets why you gotta try and ruin such a pretty chart set up.
Gonna lean out on a limb here and hold my shares. Someone bought up several million shares 2 weeks ago.
We are still trading dead center. 18.50 is holding up. This is a waiting game for sure.
Just gonna say something. The chart is literally primed for a major move. We are dead center of a pennant formation that basically comes to a head mid August. Right around earnings. My theory is we run up before that. I'd like to see us 22-25US pre earnings. Primarily because I think the release is gonna be subpar so I'll be aiming to take profit going into earnings hype.
(Most likely).
but let's just say the perfect scenario is we don't (highly unlikely know how weed stocks trade). Instead we trade sideways here around 18.50 US and CGC releases earnings that are positive finally. It will be an explosive move upward. 25 to 30US would be very likely with continued upwardation. (Least likely)
Now imagine what subpar or negative earnings report could do. Well that would break to the downside out of the pennant and (10s or 11s US) would become a real likelyhood.
My 2 cents. Good luck everyone. We are holding right now. Average of 18.60s.
Chart says action imminent. Big move up or down is coming.
Somethings off. 20M volume yesterday. 6M volume today?
Very little selling pressure so far today especially given APHA release. Interesting.
All in final buy 18.61. Averaged 18.60s on reentry.
Hoping so. Think mid 20s coming soon.
Re added on that dip.
I'm a buyer @ 18.50s.
Closed out. @19.52. Gotta take that profit. Will try to re enter later.
Looks like it.
CGC about to run some more.
Yah I'm tracking 3 runners right now. Ones about to explode. $SPAQ. $CGC is already running and $BTC is currently running as well.
Lol took some profit off CGC today to add to $SPAQ. (Musk competitor).
21 is top of a pennant estimation 23 is current 190 SMA on 5Y chart.
Yah. Haha. If we fail to bounce here at 19.16 US we will head down to 18.60s US.
US of course.
Looks like 21s coming. If we blow through that then surely 23s stop us. Lol.
CGC is breaking out. Setting next sell at 19.90 US.
Sold 50% at 18.54 US.
Long time no post. Sorry for the absence I've become a twitter bug. Anyway enter a position here yesterday after the news. We are currently trading at the bottom of a pennant pattern. I expect mid 18s US today or tomorrow where we will find resistance. GL all. See ya when the action picks up.
Like clock work. Haha
Yes. I closed out all positions. Good luck john.
No problem. Most difficult part of trading is fomo. 12 years of trading under my belt and even to this day I struggle with it. Liquidated my TLRY this morning as well at a small loss. My gains on CGC more than make up for it so. All in all good friday morning for me.
Seeing the charts now. They're quite brutal to be honest. Lotta people just got destroyed. Stop losses are important going into ER.
Oh I imagine it's going to be much worse the. 18.5 this morning.
16-17 US
I recognize that as a possibility, but at the same time I see this run up as pricing in good news. I think the report will have to be STELLAR news to maintain our current trajectory.
I'm just not seeing that happen. I think it could maybe hit $25s US max. I think this is highly unlikely. I think this will be a buy the rumor sell the news event.
Aiming for 16s 17s reentry.
Shes screaming up now. Haha still holding my TLRY shares. If it blows up tomorrow I'll still win.