Possible downward continuation setup
The bearish Gartley we used in the Elite Zone to short $TEVA from the 55$ zone generated a 8$ downward move in the stock.
Now that $TEVA bounced from support to complete its 61.8 Fib retracement, is it the time to jump on the bearish continuation trade?
"Aggressive C sell" scenario in a possible bearish AB=CD pattern.
As long as the stock stays below broken trend line, this scenario may work.
Target - Completion of AB=CD pattern near 44$
If you wish to join the Elite Zone, you can do so in the MarketZone website: WWW.THEMARKETZONE.NET
Now that $TEVA bounced from support to complete its 61.8 Fib retracement, is it the time to jump on the bearish continuation trade?
"Aggressive C sell" scenario in a possible bearish AB=CD pattern.
As long as the stock stays below broken trend line, this scenario may work.
Target - Completion of AB=CD pattern near 44$
If you wish to join the Elite Zone, you can do so in the MarketZone website: WWW.THEMARKETZONE.NET