Updated

Neblio short-term trade

Neblio seems to be starting wave 5 of the breakout that occurred when it exited the consolidation channel on April 5th. I initially counted the first wave wrong, thinking that wave 5 was completed. But due to the fact that wave 4 entered into wave 1 territory by more than a wick, I concluded that my first wave was a sub-wave of the true impulse wave 1, which is what I now have drawn on the chart. This is a short term trade, potentially 12.5% gain, tight stop loss. This entire cycle is a sub-wave of the breakout on the daily chart, to be analyzed in another idea.

Note

I think I was wrong. My first wave count was correct. I still expect a break to the upside, given that we are on a strong support level. There have been numerous breakouts in the past few days, I believe the bulls have had enough and are ready to take the wheel. Our best strategy, as always, is to React, rather than predict. We can run TA to get an ideas of where things may go, but time and time again we will be surprised, therefore we must stay aware and react to the opportunities as they arise. good luck

Note

Wick just kissed my target. Congrats if you made a little green

dcattey

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dcattey

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