Elliott Wave count suggests we'll see price go up for a wave 3 or C in impulsive fashion up to 2.53 at first.
Notice that we also have bullish divergence and a classic (potential) Head and Shoulder pattern, but this needs a push above the neck line to confirm which limits the profit potential.
We can use a break above the blue channel line as an indication that price has started reversing and should continue higher.
Invalidation for this count is at 2.19 but we could see price go up even after a small break below invalidation.
(This does not mean I won't stop my trade if Invalidation is hit!)
Notice that we also have bullish divergence and a classic (potential) Head and Shoulder pattern, but this needs a push above the neck line to confirm which limits the profit potential.
We can use a break above the blue channel line as an indication that price has started reversing and should continue higher.
Invalidation for this count is at 2.19 but we could see price go up even after a small break below invalidation.
(This does not mean I won't stop my trade if Invalidation is hit!)
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Note
doesn't seem really inspired ...Note
We got a great gap up today. Head and shoulder target was hit, so, you can start to slowly reduce your positions.
There is still some room higher but we could start to see a sideways consolidation first.
Note
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Don't forget to like, share and follow !
Questions? Chat or Comment on Ideas
Don't forget my public Telegram channel -
t.me/em16public
Thanks !
Questions? Chat or Comment on Ideas
Don't forget my public Telegram channel -
t.me/em16public
Thanks !
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.