AUTODESK expecting new bullish push soon
Hi viewers, ADSK price break first zone, in last 2 days of week its be bearish, currently here for next periods new bullish push soon expecting
TP1: 127
TP2: 137
Autodesklong
Auto Desk cautiously bullish to $260.39W Formation has clearly formed on Autodesk showing upside to come.
The price is above 200MA which confirms the bullishness.
However, there was recently a breakaway gap which is concerning as 70% of gaps close.
I don't trade when gaps are within formations so if I went long I'd only risk 1% or so as a gamble trade.
Target $260.39
ADSK LONG POSITIONWe just finished 1-5 Elliot Wave, ABC correction and XWY combination, and bounced off of a strong monthly demand zone, we already missed out on an entry, but we can still enter now but our R/R is low, I would suggest waiting for a retrace to an entry zone, because market made tiny gap while bouncing up which should be filled and we should get a good entry.
Entry 192 (After a retrace to entry zone for better R/R, we can enter now, but risk reward ratio is very low)
Invalidation 123 (Just below Demand zone)
Target 1: 260 (50 Fib zone)
Target 2: 299 (Daily gap zone)
