Broadcom (AVGO) can correct till 206, post that a target of 315

Jun 18

AVGO has completed its lower degree 5 waves and higher degree wave-3.
Currently it is correcting in ABC waves.


Blue line depicts probable path it may take correcting and then taking turn up towards a target of 315, which completes its higher degree Wave-5 and mostly larger Wave-5(Wave-V).

How can one enter ?

Wait for price to correct and make a entry pattern(as per Price action and RSI divergence)
Exit will be around 315 or any rule based system.

When this view will be negated:
If daily price closes below 193.25 above view gets negated.

Jun 24

Note

C wave (down leg) is still pending here, waiting for to confirm for next move

Jun 25

Note

We seem to have BO, if we have a followup candle, then trade is active for the target.

Jun 26

Note

Yesterday's candle is not bullish, we need bullish follow up candle to confirm BreakOut

Jul 28

Trade active

We are nearing target

Jul 29

Trade closed: target reached

We are nearing Target, since its Wave5, it is unreliable, once can book profits here.,

Aug 6

Note

It may be doing ending diagonal, it is preferrable/safe to book profits here.,