KO: Simple trade idea
KO moved out of the downward channel.
While KO has been in the channel, it formed a three-wave structure which is corrective. If this correction is over, the price should go above the starting point of the correction.
To make sure KO is in the uptrend, the high of yesterday's bar can be a stop-buy target as the entry point.
The initial protective stop can be 41.93 which makes the current upward move three-wave if breached.
The initial target would be the start of A which is 48.62.
Nice risk-reward ratio to consider to my eyes.
More charts can be found at white6intelligence.com
While KO has been in the channel, it formed a three-wave structure which is corrective. If this correction is over, the price should go above the starting point of the correction.
To make sure KO is in the uptrend, the high of yesterday's bar can be a stop-buy target as the entry point.
The initial protective stop can be 41.93 which makes the current upward move three-wave if breached.
The initial target would be the start of A which is 48.62.
Nice risk-reward ratio to consider to my eyes.
More charts can be found at white6intelligence.com
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