ADB trade ideas
ADBE - 2 way this could play outWe have 2 possiblities here.
Either we are in a complex WXY correction which would then take price towards 415 i n a corrective fashion similar to the dotted line drawing.
or
we are finishing a Flat corrective wave 2 pattern in which case price should remain above the invalidation level at 439 .
The usual termination point for wave (C) of a Flat pattern is the 100% and 127.2% projection of wave (A) from (B) but the 127.2% level would be below the invalidation level, therefore we can discard it for this setup.
100% level comes at 451, which is also the 78.6% retracement level of wave 1, known also as the last line of defense for bulls.
So, price needs to ideally remain above that level if we are to see higher prices.
Note also that any move above 505 even before touching the 451 level should be considered as a big bullish indication!
Short term opportunity on ADBE Today, we will show a bullish setup we have seen on ADBE.
a) The price has broken a major Descending structure
b) Now it's above a resistance zone
c) We can see a corrective structure on the mentioned resistance zone
d) If we have a breakout on the Green line, we will consider the analysis active / The same scenario for the red line (Invalidation of the analysis)
e) The TP1 area can be used to close the setup or move the stop loss to break-even (that is what we will do)
f) We are aiming for a final target at 533.10
g) This setup can provide a Risk Reward Ratio above 2
h) We expect a resolution between 10 to 20 days
ADBE buy zoneI am a casual trader while managing own online business.
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ADBE triangle break out at critical resistance levelsExpect ADBE to break ATH in 20 - 45 days time, entry point my varies, sizing for long swing, beside TA ADBE is a good fundamental stock to own since it dominates its own market for professionals.
Take the opportunity when Sell the news event happens on 21/12/2020.
Next target 1.272 level.