Waiting for the 5th wave to come down here, there is potential for further down movement through the stop loss but I think that the buying pressure due to the bullish RSI and MACD divergence will hold the price up.
The profit target is derived by taking the Fibonacci retracement of all (5) waves and I am only targeting a 0.236 retracement.
Best of luck and I am taking this trade, not just posting random analysis.
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Action: Set limit buys between $8480 and $8300
Stop Loss: $8068.7
Take Profit: Roughly $8670 but depends on how far down wave (5) goes
Order valid: 4 hours from publication
➖➖➖
Not Financial Advice
The profit target is derived by taking the Fibonacci retracement of all (5) waves and I am only targeting a 0.236 retracement.
Best of luck and I am taking this trade, not just posting random analysis.
➖➖➖
Action: Set limit buys between $8480 and $8300
Stop Loss: $8068.7
Take Profit: Roughly $8670 but depends on how far down wave (5) goes
Order valid: 4 hours from publication
➖➖➖
Not Financial Advice