Assuming this is wave 1 very good risk to reward. I am waiting to enter at the double bottom and having my stop loss below wave failure (5 - 10%). Approximate ratios are labeled at relevant targets. Good luck all!
Disclaimer - FOR EDUCATIONAL PURPOSES ONLY, I AM NOT A FINANCIAL ADVISOR
These trades are under the assumption that this is wave 1 according to Elliot Wave Theory. We have retraced to .618 from the impulse move upwards, next Fibonnacci support is at around $140. How do we trade this?
Risky
- Wait for some sort of bounce/buy volume/crossover of oscillators IF...
