On the 30-minute chart, I see GNS as a Bullish Pennant on a high flag pole
in the big move yesterday with consolidation now. It is high in the VWAP
bands and so at risk for a reversal to the mean. Pennants more often than not continue
upside. To hedge, I have set two lines. If the price goes over the green line a
buy stop long will trigger into a market price. If the price drops below the pennant
height, a sell stop will trigger the short trade. One trade is on the other will not execute.
Ask if you want my suggestion as to stop losses and targets.
(EDIT - On the chart it is a flagpole not a flap pole !)
in the big move yesterday with consolidation now. It is high in the VWAP
bands and so at risk for a reversal to the mean. Pennants more often than not continue
upside. To hedge, I have set two lines. If the price goes over the green line a
buy stop long will trigger into a market price. If the price drops below the pennant
height, a sell stop will trigger the short trade. One trade is on the other will not execute.
Ask if you want my suggestion as to stop losses and targets.
(EDIT - On the chart it is a flagpole not a flap pole !)
Trade active
This was a great pump and dump for sure. The put options on the $1.00 for 8/25 hit 500% on 25 contracts- small position - great return looking for more
will take half of them off to close the week and let the other 10 run
for 4 days next week.
Note
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.