MA - Trade Setup - 34% Upside Potential
Here is my trade setup for
MA
. Entering a long position here. We could possible see a bit more downside to the fibs levels labeled 1.618 and maybe 1.809. I would enter a partial position here and then double down if it goes to 1.618. I would set your SL to a bit below 1.618 initially, this would mean a los of about 6.3% if you got stopped. Upside potential for wave 3 is 34%. This gives an RR of 5.4. Expect to hold this trade for several months until price target is reached.
MA
. Entering a long position here. We could possible see a bit more downside to the fibs levels labeled 1.618 and maybe 1.809. I would enter a partial position here and then double down if it goes to 1.618. I would set your SL to a bit below 1.618 initially, this would mean a los of about 6.3% if you got stopped. Upside potential for wave 3 is 34%. This gives an RR of 5.4. Expect to hold this trade for several months until price target is reached.
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Already up over 4% since initial buy in, testing top of the channel here, if we break out then we are going to new ATH
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Testing channel for support with the wave 2 retrace. Looking good so far, adjusted SL to 314.55. If we make a new high recent high then I will adjust SL again to bottom of the wave 2
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Wave 3 in motion