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ACB Long - Great R:R!
Here we have a solid potential ACB play going long:
To keep it simple:
We have had Waves 1-3 and we are currently on Wave 4 as a retracement wave. Right now is a prime buying opportunity at 87 cents and below (.87-.84) - setting a stop loss below the top of Wave 1 (Elliot wave principle would be violated if the SL is hit) at 78 cents to be safe.
2 Sell Targets:
1st being a 1:1 of wave 1 which is a 24 cent move from the low of wave 4 which would be $1.10 (if $0.86 is the bottom, may need to slightly adjust)
2nd target would be the 2.618 extension of Wave 1 as Wave 3 reached the 1.618 (makes Wave 5 likely to reach 2.618).
Great % gains with a great R:R, what is there not to like?!
Will update as this plays out.
If you enjoy my content, make sure to 'subscribe'!
Thanks,
To keep it simple:
We have had Waves 1-3 and we are currently on Wave 4 as a retracement wave. Right now is a prime buying opportunity at 87 cents and below (.87-.84) - setting a stop loss below the top of Wave 1 (Elliot wave principle would be violated if the SL is hit) at 78 cents to be safe.
2 Sell Targets:
1st being a 1:1 of wave 1 which is a 24 cent move from the low of wave 4 which would be $1.10 (if $0.86 is the bottom, may need to slightly adjust)
2nd target would be the 2.618 extension of Wave 1 as Wave 3 reached the 1.618 (makes Wave 5 likely to reach 2.618).
Great % gains with a great R:R, what is there not to like?!
Will update as this plays out.
If you enjoy my content, make sure to 'subscribe'!
Thanks,
Nota
Made its way to 78 cents but was still a great hold and additional buying opportunity! Lets see where it goes now!Trade fechado: stop atingido
Looks like ACB announced a reverse split of 12-1. Due to the news, along with the price going below my stop, I am out of this trade and simply watching now.On to the next!
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.