Hello,
I've been watching BYD for quite a long time.
We've been through Elliot 1-5;A-C;1-5:
This suggests that this asset is riding those waves all day long.
My interpretation of the most recent price action:
We're now on the way from A to B and expecting to reach point C soon @Fibonacci 0.382 =(€27)
This level around 27€ would be my preferred long entry.
Currently we're at 32.15€ which might make a short position interesting: now to C is -16%
Finding a suitable stop loss is complicated though. I'd suggest 33.50€ as stop if you go short.
This is not financial advice.
I've been watching BYD for quite a long time.
We've been through Elliot 1-5;A-C;1-5:
This suggests that this asset is riding those waves all day long.
My interpretation of the most recent price action:
We're now on the way from A to B and expecting to reach point C soon @Fibonacci 0.382 =(€27)
This level around 27€ would be my preferred long entry.
Currently we're at 32.15€ which might make a short position interesting: now to C is -16%
Finding a suitable stop loss is complicated though. I'd suggest 33.50€ as stop if you go short.
This is not financial advice.