Hello Traders,
Here is an educational post about the W-V pattern.
As of right now the W-V pattern is not fully formed and we are waiting for price to retrace to the neckline at $244 before we enter.
The price target is technical resistance at $309, however you could exit half at the double top resistance near $275, then using a trailing stop the rest of the way up.
Note: There is a high probability that price could trade down to $236 first to fill the gap and tag the 200 MA before reversing and trading to the upside. This is perfectly fine as far as long as the $236 level remains intact and price does not trade below it.
Thanks everyone and best of luck!
Here is an educational post about the W-V pattern.
As of right now the W-V pattern is not fully formed and we are waiting for price to retrace to the neckline at $244 before we enter.
The price target is technical resistance at $309, however you could exit half at the double top resistance near $275, then using a trailing stop the rest of the way up.
Note: There is a high probability that price could trade down to $236 first to fill the gap and tag the 200 MA before reversing and trading to the upside. This is perfectly fine as far as long as the $236 level remains intact and price does not trade below it.
Thanks everyone and best of luck!
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.