Possible stop a few ticks below C or last pivot low..
This is an ABC correction move and is a measured move down within a larger measured move up. D is the target. C must be above A. These patterns appear over and over within the markets.
The target is based on the length of the AB leg using fib levels.
This one is a ways over long entry level...I like to spot these a bit closer to C but sometimes I just do not see it in time. There are 4 dojis in the last 7 daily candles which can represent indecision.
NV and OBV are high. Short interest has decreased significantly since the last time I looked at this which was a few months ago..
Not a recommendation..
This is an ABC correction move and is a measured move down within a larger measured move up. D is the target. C must be above A. These patterns appear over and over within the markets.
The target is based on the length of the AB leg using fib levels.
This one is a ways over long entry level...I like to spot these a bit closer to C but sometimes I just do not see it in time. There are 4 dojis in the last 7 daily candles which can represent indecision.
NV and OBV are high. Short interest has decreased significantly since the last time I looked at this which was a few months ago..
Not a recommendation..
Note
Pattern failure as C is 46.88
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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.