Long
Long SUNE: Entry at Thrust Target Through Completion of (iv)
On the daily TF, we are in the midst of the fifth and final wave of an expanding ending diagonal, counted as C of an ABC zig-zag correction. The monster buying opportunity will be at the completion of this C wave, however, we may be presented with a short term long opportunity with a R/R of 8.5. The current count is wave-b-of-(c) in a potential flat correction which may complete the fourth wave corrective structure in the last leg of the ending diagonal of C. The triangle thrust is confluent with AB=.618CD and is supported by wave-iii low, so a tight stop is not unreasonable here. There will be two targets, one at (a)=(c), which is conservative, and another at the more aggressive yet probable fourth wave terminus at (a)=1.5(c) in previous fourth wave territory. If the trade triggers and travels to target, I will not be taking a short position but instead will wait for C to complete for a long term buy-and-hold.
Ordre annulé
Thrust was undershot and another corrective pattern started. Another short-term long may present itself shortly.
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Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.