Etsy Elliot wave 5
Looks like Etsy could be in the middle of a Elliot number 5 impulsive wave.
If this is true, a possible price target might be 0.618 Fibonacci which is ~288$ or ~+14%
Stop loss: 225,25$ or -10%
==> risk/reward ratio of 1.4:1 is not very tempting - so I don't recommend to enter the trade now.
If you're long already you might want to hold for more profit.
This is not financial advice.
If this is true, a possible price target might be 0.618 Fibonacci which is ~288$ or ~+14%
Stop loss: 225,25$ or -10%
==> risk/reward ratio of 1.4:1 is not very tempting - so I don't recommend to enter the trade now.
If you're long already you might want to hold for more profit.
This is not financial advice.
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.