Spotify Ascending Wedge- 22% Long position
On the 2hr chart there is an ascending wedge where spotify is clearly trading in between. If all goes well, it should bounce off the bottom white line of the wedge, if not it should bounce off around the yellow support line (in theory). If it bounces from the white support line we can expect a 22% gain in a long term position.
My idea of a swing trade would be:
1. Would buy before the white support line and sell at the top.
2. Stop- loss just beneath the yellow support line
What do you think?
My idea of a swing trade would be:
1. Would buy before the white support line and sell at the top.
2. Stop- loss just beneath the yellow support line
What do you think?
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