Chart pattern: Bull Flag
Entry: 34.11$ (this would end the trend of the correction)
Stop: 24.41$
Target: 75$
Risk/Reward-Ratio: > 4:1
Stopmanagement: ATR Stops daily chart default settings
Elliott-Wave-Principle: After a impulsive 5 wave structure the price developed a zig-zag-correction which retraced to the 38-Fib.-level. Due to the fact that the intermediate structure is not that clear I will treat this trade as a classic bull flag.
Entry: 34.11$ (this would end the trend of the correction)
Stop: 24.41$
Target: 75$
Risk/Reward-Ratio: > 4:1
Stopmanagement: ATR Stops daily chart default settings
Elliott-Wave-Principle: After a impulsive 5 wave structure the price developed a zig-zag-correction which retraced to the 38-Fib.-level. Due to the fact that the intermediate structure is not that clear I will treat this trade as a classic bull flag.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.