As sq remains in its consildation we just had a big short report that came out on sq causing a big drop premarket. Hienstly this is speculation but this type of setup at the bottom of the market trend is exactly how a bottom is formed. Sq could potentially be starting to build an inverse head and shoulders. How to play the pattern? You can front run the final build of the right shoulder if you see volume come in in cominf weeks around the right shoulder low, and enter with stops below the head.
Another more safe way is to wait for a blast through the neckline and wait patiently for the pull back retest of that previous reistance as new support.
Either way this is speculation and for now this range is 50-88.75 so a break and close above 89 is a breakout which will be down the road now if we decide to play this pattern out.
I’m being patient no active postion. I will post again if I notice over coming weeks if this idea is forming
Another more safe way is to wait for a blast through the neckline and wait patiently for the pull back retest of that previous reistance as new support.
Either way this is speculation and for now this range is 50-88.75 so a break and close above 89 is a breakout which will be down the road now if we decide to play this pattern out.
I’m being patient no active postion. I will post again if I notice over coming weeks if this idea is forming