Hello everyone !
About a month ago I presented to you Altice: https://steemit.com/trading/@tatchcapital/trading-analysis-atc-as-a-very-nice-long-term-trade-in-the-making-altice-group-from-billionaire-entrepreneur-patrick-drahi
1) Wedge and TTR (Tight Trading Range)
After it made a 'classic' bear wedge price did made a 2 legged pullback but it was rather weak not the correction you could expect after such crazy drop.
Price then kept on sliding down and made a tighter and tighter trading range (sort of spike and channel really).
2) Daddy'stock
On a side note, compare to forex or even crypto the counterparty to banks and market makers is good guy Joe Sixpack and he can't trade 24/7 or even 24/5 but only during EuroStoxx trading session. Also retailers don't use leverage as much and if so it's a 3:1 or 5:1 far from forex 100:1, 400:1 or even 1000:1 in Indonesia.
That means that it takes much longer for the big boys to trap the dumb money (retailers). Price has then a very different 'personality' or rythme. Day-trading stocks is very difficult because almost everyday price gap (because banks can trade when you can't, in order to trigger your stop trades...).
This result in price moving 'slower'. This is why I took the party of scale-in slowly in this trade.
3) The Dead Cat Bounce
At this point something as to 'give in' either price more toward 5€ or more probably it makes its correction or 'Dead Cat Bounce' and go reach previous resistance, namely 9,9€ and 10,7€. (see above figure)
Like most of the followers already know TTR is calm before the storm, expect fakeout and then a 'large' trading move
Don't hesitate to join us, upvote, share and ask questions in comment section.
Much love
Cédric
Tatch Capital Limited
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GuldenTrader
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@originalworks
All disclaimers and common sense apply.
No advise, just personal commentary.
Never go full retard.