TU | Elliott Wave Projection - End of Wave 4?Price action and chart pattern trading
> Elliott Wave Projection of the primary wave 4 coming to an end of sharp declining DOUBLE ZIGZAG Correction?
> Wave Y coming to 1.236 to 1.618, then Wave 4 would slightly overlap Wave 1 position and expected a possible small sideway breakout consolidation for a buy entry.
> If Wave 4 is coming to the end as described, Wave 5 is projected at 1.236 - 1.618 retracement of wave 4.
Always trade with affordable risk and respect your stoploss
TU
TU | Descending Breakout | Tweezer Top Entry @ Pullback / RetestTU | Thailand SET Index | Food Sector | Chart Pattern & Price Action Trading
Descending Triangle Breakout with Bearish Tweezer Top Candlestick pattern - Wait for Entry @ Pullback at retest position
Double Bottom & Top
RSI strong bullish signal
MACD about to cross the baseline 0
Trade with affordable risk ratio 3:1
Always respect your stop-loss
Good Luck
DP
Telus TU or T (CAD) is starting its down trend.With the MACD losing steam and the RSI overbought it's a good time to take on a short position on a relatively safe stock.
Consider putting the SL @ 20.33 and take half profits at 19.43 and watch it from there. Take full profits when MACD starts to turn back around and RSI heads back up.
This is a very low risk trade. Great for folks who aren't typicaly comfortable taking shorts.