Ride the 3rd of the 3rd
Updated
Chart is presenting a great Elliot Wave Structure. Theres a good short interest on the stock. Possible short squeeze.
Wave characteristics -
Wave 1 (Complete) - Very good looking wave without any overlaps. nice Fibonacci relationships within sub waves. 3rd was nearly 2x of wave 1. Wave 4 was .23 of wave 3. Wave 5 was almost perfect .382 of 1+3.
Wave 2 (Complete) - Spot on .618 of Wave 1
Wave 3 (Underway) - wave 1 looks almost complete. The slope is getting steeper. Its looking really good.
So plan is take an entry at wave 2 of the 3rd. I will wait for the price to drop sharply and break wave 4 for the entry. I have set up multiple alerts and would like to see how wave 2 of 3rd unfolds. Cut loss level is at invalidation level at bottom of Larger wave 2 ( the red line). Play it however you want through options or outright. 3rd of the 3rd is always a great option play because its very fast and explosive minimising risk of Theta Burn.
Appreciate comments and feedback.
This is not financial advice. I am just a degenerate Gambler so please wish me luck.
Wave characteristics -
Wave 1 (Complete) - Very good looking wave without any overlaps. nice Fibonacci relationships within sub waves. 3rd was nearly 2x of wave 1. Wave 4 was .23 of wave 3. Wave 5 was almost perfect .382 of 1+3.
Wave 2 (Complete) - Spot on .618 of Wave 1
Wave 3 (Underway) - wave 1 looks almost complete. The slope is getting steeper. Its looking really good.
So plan is take an entry at wave 2 of the 3rd. I will wait for the price to drop sharply and break wave 4 for the entry. I have set up multiple alerts and would like to see how wave 2 of 3rd unfolds. Cut loss level is at invalidation level at bottom of Larger wave 2 ( the red line). Play it however you want through options or outright. 3rd of the 3rd is always a great option play because its very fast and explosive minimising risk of Theta Burn.
Appreciate comments and feedback.
This is not financial advice. I am just a degenerate Gambler so please wish me luck.
Note
1of 3 looks complete. completed right at the 24 channel conferencing with the larger base channel. Looing for entry in 108 or 103 area.
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