$PLUG New Target

Since my last target was hit here, $PLUG has now formed a bull wedge. I note the measured move in the chart.

PLUG

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Note: When articles are first posted, most of them are made available only to my Patreon supporters (I do try to publish some public posts on occasion). Over time (usually after a period of a few weeks or so), I make all of the work public. To gain access to my work when it is produced, please consider becoming a patron. More information may be found on my About page and on my Patreon page. In a nutshell, patrons of any denomination (you get to pick the amount) will be able to read my weekend analyses, Tier 1 members ($20/mo.) get access to all of the articles I write, and Tier 2 members ($35/mo.) get access to those, plus counts on other instruments and my Discord chatroom.


$PLUG Inverse and Target

$PLUG is forming an inverse head and shoulders pattern (red) inside a bullish wedge (green). I have noted the target on the chart.

PLUG

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Note: When articles are first posted, most of them are made available only to my Patreon supporters (I do try to publish some public posts on occasion). Over time (usually after a period of a few weeks or so), I make all of the work public. To gain access to my work when it is produced, please consider becoming a patron. More information may be found on my About page and on my Patreon page. In a nutshell, patrons of any denomination (you get to pick the amount) will be able to read my weekend analyses, Tier 1 members ($20/mo.) get access to all of the articles I write, and Tier 2 members ($35/mo.) get access to those, plus counts on other instruments and my Discord chatroom.


A Deep Dive into $PLUG

This is a long and complicated analysis, but I’ve been giving it a lot of thought, and I will walk you through my thinking step by step. There is what I think is a terrific setup here. An “either/or” that both at least initially point in the same direction.

In this tweet, I identified the parallel channel that $PLUG is in and pointed out the risk it faced were it unable to break out of that channel. In the intervening time, the bullish wedge it has formed (with divergence) leads me to believe that it will break out after all, a development which has prompted this deeper analysis.

To avoid confusion, I have used two colors to segregate the bullish and bearish alternatives: green for bullish, red for bearish. In order to then refer to subwaves (since I lack additional colors), I will refer to their degrees, and in this analysis I will be referring only to two: minor (not circled) and minute (circled). I hope this will help you to follow along as I discuss the chart.

PLUG

Read more “A Deep Dive into $PLUG”


Note: When articles are first posted, most of them are made available only to my Patreon supporters (I do try to publish some public posts on occasion). Over time (usually after a period of a few weeks or so), I make all of the work public. To gain access to my work when it is produced, please consider becoming a patron. More information may be found on my About page and on my Patreon page. In a nutshell, patrons of any denomination (you get to pick the amount) will be able to read my weekend analyses, Tier 1 members ($20/mo.) get access to all of the articles I write, and Tier 2 members ($35/mo.) get access to those, plus counts on other instruments and my Discord chatroom.