Another elliot wave pattern. This one's almost textbook.
NTES completed an elliot wave pattern approximately two days ago, and should now enter its elliot corection wave phase.
Looking at its Fib retracement we see that the .786 lines up pretty closely with the end of the main impulse AND the gap up from two weeks ago, which makes a good price target for the first correction wave.
Date discovered: March 2, 2017
Position: Short
Price to enter: 290.82
Price target: 266.60
NTES completed an elliot wave pattern approximately two days ago, and should now enter its elliot corection wave phase.
Looking at its Fib retracement we see that the .786 lines up pretty closely with the end of the main impulse AND the gap up from two weeks ago, which makes a good price target for the first correction wave.
Date discovered: March 2, 2017
Position: Short
Price to enter: 290.82
Price target: 266.60
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