I expect BYD to fall to $166.8 given the following:
1. Price fall before trendline cut = price fall after trendline cut
2. Fibonacci extension level of wave 5 (of C) = 1.618 of wave 1 (of C).
1. Price fall before trendline cut = price fall after trendline cut
2. Fibonacci extension level of wave 5 (of C) = 1.618 of wave 1 (of C).
Trade closed manually
Price movement seemed to have cut short the down fall. I see an ending diagonal now.Note
While the trade did work for a couple of days, the move forms in 5 waves before shooting up. Making it a potentially short ending diagonal.Note
The fall reignites this original idea :)Note
Keeping this short call intact by extent the period to near end Jan 2024.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.