SPWL is most probably in wave C or 3
Our preferred wave count suggests that we are in wave C or 3 which will take price toward 13.50 or 15.25.
If this unfolds as wave C, then price will retest the below orange trendline support (11.80 - 11.60 area) giving an excellent opportunity for long position targeting 13.50 area.
On the other hand if this unfolds as wave 3 then its very unlikely that prices will go down toward the buy zone, instead prices will rise directly targeting 15.25 area (the rise should be a sharp one)
Alternate wave count suggest that wave 4 (marked in red) has just completed and wave 5 has started which will take price down towards 9.70 and lower.
We will take trade if price touches the below orange trendline (11.80 - 11.60 area) or once the price break above 13 level.
Trade Setup:
Entry level: 11.80 - 11.60 or 13
Stop loss: 11.45
Target:
13.50 (if price go down toward 11.80 - 11.60)
15.25 (if price rise directly breaking above 13)
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 or 3 which will take price toward 13.50 or 15.25.
If this unfolds as wave C, then price will retest the below orange trendline support (11.80 - 11.60 area) giving an excellent opportunity for long position targeting 13.50 area.
On the other hand if this unfolds as wave 3 then its very unlikely that prices will go down toward the buy zone, instead prices will rise directly targeting 15.25 area (the rise should be a sharp one)
Alternate wave count suggest that wave 4 (marked in red) has just completed and wave 5 has started which will take price down towards 9.70 and lower.
We will take trade if price touches the below orange trendline (11.80 - 11.60 area) or once the price break above 13 level.
Trade Setup:
Entry level: 11.80 - 11.60 or 13
Stop loss: 11.45
Target:
13.50 (if price go down toward 11.80 - 11.60)
15.25 (if price rise directly breaking above 13)
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.
أغلقت الصفقة: تم الوصول لوقف الخسارة
Our trade got active and hit stop loss within a short span. If our alternate wave is correct then price will go below 9.70.Entry price: 11.68
Exit price: 11.45
Loss @ share: 0.23
Gross loss: 1.97%
ملاحظة
Price has been falling nicely as anticipated, now price should go below 9.70 from where we will start accumulating some positions. Will post the idea once a suitable buy setup gets confirmed.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.