IS IT A NEW IMPULSE OR WAVE A OF ABC ZIGZAG.THIS CANT BE SAID BUT ONE SHOULD LOOK TO EXIT LONGS AROUND 1450 LEVELS AS TRENDLINE CONNECTING WAVE 1 AND WAVE 3 TOP CAN ACT AS RESISTANCE.HENCE WAVE 1 OR WAVE A,MIGHT TERMINATE AROUND THE SAME LEVEL. A DECENT PULL-BACK IN THE FORM OF WAVE 2 OR B CAN COME IN COMING FUTURE.
Comment
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stock has reversed and has started wave 2/B.one should wait for 50-62% retracement of wave 1/A for initiating longs.
Trade closed: target reached
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as of snow stock has bounced from 62% retracement level shorts should be losed