I have here used the ABC pattern with subwaves 3,3,5. In the C wave as you can see is still forming. here are a list of reasons why i believe that this stock is about to correct.
Please leave feedback and comments!!!
Cheers
- wave C is still still under completion with 2 subwaves remaining.
- Double top formation.
- Formation of indecision candle on both the tops.
- Channel formation where even if the there is another high, the upper bound of the channel would act a a resistance and retrace back to fib level 23.6% before continuing downtrend.
Please leave feedback and comments!!!
Cheers
Comment:
Trade triggered today. And we are more than 70% closer to the target.
Comment:
Although target has been reached. This is another good time to enter short in this trade. Lets ride it all the way down
Trade closed: target reached
Trade active
Trade closed manually:
Markets may go up so closing the trade. I have a strong upward bias.
