I have here used the ABC pattern with subwaves 3,3,5. In the C wave as you can see is still forming. here are a list of reasons why i believe that this stock is about to correct.
wave C is still still under completion with 2 subwaves remaining.
Double top formation.
Formation of indecision candle on both the tops.
Channel formation where even if the there is another high, the upper bound of the channel would act a a resistance and retrace back to fib level 23.6% before continuing downtrend.
Please leave feedback and comments!!! Cheers
Nota
Trade triggered today. And we are more than 70% closer to the target.
Nota
Although target has been reached. This is another good time to enter short in this trade. Lets ride it all the way down
Trade fechado: objetivo atingido
Trade ativo
Trade fechado manualmente
Markets may go up so closing the trade. I have a strong upward bias.
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.