This is in continuation to our ongoing tracking of MARI.
Our preferred wave count suggests that we are in wave C of an ABC wave correction downward which will target the green trendline or the orange trendline and if the momentum continues it will easily go beyond 606 level.
Alternately, we can still be in wave B which can unfold as sideward movement bouncing between 680 and 755 level.
Now price has already triggered our short sell setup, however we have not yet activated our trade, as we are anticipating price to move back towards 725-730 level which will provide us a better short sell opportunity. In case price does not bounce up and break below instead, we will activate short sell position from 688
Trade setup:
Entry price: 688 or 725
Stop loss: 756
Targets:
T1: 660 - 650
T2: 630 & below
Let see how this plays, Good Luck!
Disclaimer: The information presented in this wave analysis is intended solely for educational and informational purposes. It does not constitute financial or trading advice, nor should it be interpreted as a recommendation to buy or sell any securities.
Our preferred wave count suggests that we are in wave C of an ABC wave correction downward which will target the green trendline or the orange trendline and if the momentum continues it will easily go beyond 606 level.
Alternately, we can still be in wave B which can unfold as sideward movement bouncing between 680 and 755 level.
Now price has already triggered our short sell setup, however we have not yet activated our trade, as we are anticipating price to move back towards 725-730 level which will provide us a better short sell opportunity. In case price does not bounce up and break below instead, we will activate short sell position from 688
Trade setup:
Entry price: 688 or 725
Stop loss: 756
Targets:
T1: 660 - 650
T2: 630 & below
Let see how this plays, Good Luck!
Disclaimer: The information presented in this wave analysis is intended solely for educational and informational purposes. It does not constitute financial or trading advice, nor should it be interpreted as a recommendation to buy or sell any securities.
עסקה פעילה
Entry price: 688Stop loss: 756
Targets:
T1: 660 - 650
T2: 630 & below
הערה
Price made a low of 664 today, just a shy from our 1st target. If the momentum continues, price should reach 655 - 650 level tomorrow. Now 660 - 650 has played a nice resistance level in the past which can act as a good support level now. However, if the price breaks below the green trendline with conviction than price should reach the orange trendline below, making this a nice Harmonic ABCD pattern (if you like chart patterns).
הערה
1st target reached, we have closed 50% of our positions at 655 level. Now price can bounce back from this support level, however if the decline continues price will probably reach 635 - 630 level and even below.
We will sell the remaining 50% positions at 635.
הערה
Price reached the green trendline, however it closed above it. If the price continues to decline, we will sell remaining 50% positions at the touch of orange trendline which should be around 635 - 630 levels.
Now we are anticipating a little bounce back from either current level or from 635 - 630 level but in case we do not get that and the price continues to decline further then 606 - 595 is the key level. Once this gets taken out, it should be a non-stop drop towards 540 level or even 515 - 510 level.
MARI will remain bearish until 755 is taken out.
עסקה סגורה: היעד הושג
2nd target reached all remaining positions closed at 630.Overall performance -
Entry price: 688
Exit price: 655 & 630 ( 642.5 averaged)
Profit @ share: 45.5
Gross profit: 6.61%
הערה
No respect for the trendlines, price has reached the key level of 606 - 595.Let see if the price bounce back from this level or will the bears continue to dominate, we will take a small short sell position once 595 is taken out targeting 540 level.
הערה
Price moved down nicely, just shy of our target level and has bounced back up, we did take some small short sell positions at 594 and made a little profit on this move as well.As per our minor wave, we will either get sideward movement for some days now or price might bounce back up toward 670 - 705 level, which will provide a good opportunity for short sell. Alternately, price will keep on declining targeting 513-512 level and if that doesn't hold then 440 - 430 level will open up.
We do not recommend buying at the moment and will wait and see how the wave develops this week.
הערה
As per minor wave, price would most probably reach 700 - 720 level before it starts to decline again.We look forward for a short sell trade setup from 700 + level.
הערה
Price did not reach 700 -720 levels instead it moved sideward, now if the 642 level is taken out price will most probably reach 605-600 levels, alternately if price keep on rising it will reach 700 - 720 level as anticipated.We look forward to short sell from 642 or 700-720 level, whichever comes first.
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.