PTON - PnF Verticals (A case study)
Couldn't get 'em out the door fast enough. :o) Remember?
From the first vertical measure, it was apparent that a selloff
[could] be quite a set back. While these targets are only estimates,
they can provide some valuable insight into what may lie ahead.
With the TL break, a 2nd measure could be done, and this one was
the one to grab one's attention. Again, no guarantee either (2 or 3 fib levels)
would be reached, but it did point to the possibility. Those that apply
verticals have undoubtedly seen enough examples to take heed of
what they suggest. Sometimes the "2s" do the work, others the "3s".
They're no panacea, but who thought PTON could "go low" to the
extent it did.
PnF can be a great complement to candle charts (it doesn't have
to be one or the other). Each has it's advantages.
Something to consider. :o)
From the first vertical measure, it was apparent that a selloff
[could] be quite a set back. While these targets are only estimates,
they can provide some valuable insight into what may lie ahead.
With the TL break, a 2nd measure could be done, and this one was
the one to grab one's attention. Again, no guarantee either (2 or 3 fib levels)
would be reached, but it did point to the possibility. Those that apply
verticals have undoubtedly seen enough examples to take heed of
what they suggest. Sometimes the "2s" do the work, others the "3s".
They're no panacea, but who thought PTON could "go low" to the
extent it did.
PnF can be a great complement to candle charts (it doesn't have
to be one or the other). Each has it's advantages.
Something to consider. :o)
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