Potential Short 5th Wave Swing Trading opportunity on ETRN

Using our Elliott Wave Indicator suite for TradingView, we have setup a potential Short 5th Wave Swing Trade on ETRN (Daily Time Frame). Short Entry $13.61, below yesterdays low. Stop Loss at 14.79 above the 4th wave and our automated target zone is showing a target price around $11.50.

Our ElliottWave Indicator suite really looks into the performance and behaviour of the 4th wave to predict a high probability 5th wave move. In this potential short swing trading opportunity the wave 4 has pulled back against the main bearish trend and found resistance in our GreenPull Back Zone. this gives an 85% probability the price will go down and reach our automated target zone. Next we have the ElliottWave Oscillator pulling back and crowing within our set parameters for a wave 4 pull back. Also we have our False Breakout Stochastic that has the false breakout yellow dot on the over sold zone, which denote a strong bearish bias. When the stochastic pulls back against this strong bearish bias and crosses in the overbought zone, the there is a high probability of the stochastic returning to the oversold zone.

As you can see we have a rules based approach to trading those high probability 5th wave moves, both long and short on Stocks, forex, futures, cryptocurrency and more. Please watch the Video tour of our Elliott Wave Indicator Suite for TradingView >>HERE<<