When looking at the daily time frame we see that there's a nice narrowing range, when the price breaks out of it we can see a 3rd Elliot wave. The 3rd wave is known for breaking the high of the 1st wave. Which is at 114.26.
Stock Rsi made a nice bullish crossover but the ADX isnt convincing yet.
A buy entry might be a bit to early, but when the lower range breaks its a clear sell. So if you buy it then place a stop loss a bit below the lower range. If that range breaks then sell it for 104-106 as target.
Good man!
The 1st wave looks like a retreacement. I like that.
But what I do not understand is why the 5th of the C wave have more strength than the 3rd of it.
Can you help me with that bro? :D
The 1st wave looks like a retreacement. I like that.
But what I do not understand is why the 5th of the C wave have more strength than the 3rd of it.
Can you help me with that bro? :D