CVNA: Prepping for a Symmetrical Triangle Breakout

2024년 11월 19일

Carvana (CVNA) is shaping up into a nice symmetrical triangle on the hourly chart. This type of pattern typically signals consolidation before a breakout, and it's looking like we’re getting close to a decision point.

Price has been consistently making higher lows and lower highs, squeezing tighter within the triangle. Right now, it’s testing the upper trendline around the $250 level, and the volume is starting to pick up—something to watch closely.

What I’m Seeing:

Triangle Formation: Clear symmetrical triangle, which could break either way.
Key Levels:
Bullish breakout: Above $250.00
Bearish breakout: Below $240.00
Game Plan:

If it breaks up: I’m looking to go long on a strong move above $250, ideally with some volume behind it. Targets would be $260, $270, and potentially $280.
If it breaks down: I’d consider shorts below $240, aiming for $230 and $220.
Managing Risk:

Stop Loss:
Longs: Below $240, in case of a failed breakout.
Shorts: Above $250, to avoid getting caught in a fakeout.
This one is all about watching the breakout direction. The triangle setup is clean, and with some patience, this could turn into a solid trade. Let’s see where it goes.

2024년 11월 22일

액티브 트레이드

Trade playing out as expected. Looking to take profits around 265 - 270