Bring back technical analysis
. Too often I've been seeing people just posting a picture of the price action and then an arrow going up or down with the title "Long UVXY" or some garbage like that. Nobody gives two farts about whether or not you entered a position. Show me some fibonacci. Show me some technical divergences. Show me some diamond bottoms. Show me something. I don't care if we're on the same side of the trade, or on opposite sides, but at least justify your position?
If you don't have anything to add to the conversation, don't detract from everyone else's by humming.
Biotech is creating an extremely challenging chart to follow because it's charting clear patterns on different timeframes, but the patterns are opposite each other. For example here on the daily I've got a pretty smooth cup and handle
. But on the 2hr
I've got it reaching the end of an ascending wedge
Short term - Bear
Medium term - Bear?
Long term - Bull?