Not buying META due to vertical move; waiting for breakout confirmation or failure to determine long/short entry.
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Um other movers today, we had Meta Meta trying to break out. It did close above this descending trend line. Will it confirm the breakout today? If it confirms, you're probably looking at $690 to $700 as an upside near-term target with further upside.
I could even see this moving up as high as $750. There's a gap fill up here that has not been filled.
Now, again, am I buying Meta here? Heck no. I don't chase vertical moves and it's up vertically. But at this point, I'm watching to see does the breakout fail and does it become a short or does it confirm the breakout and then you just I just step back.
I mean, listen, if you're aggressive, you could jump on board, but I'm not going to do that. I'm going to step back and just watch it until it gets to that next swing trade level.
Then I'll attack it when I have the probabilities in my favor sizably.
What this channel has said about $META
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