Hi traders,
I love the chart setup here. Appears that we're in the wave 2 of the larger wave 3 setup. This is a great area to get into for larger gains. As long as we hold the $17 area I expect a reversal and subwave 3 of the larger wave three to take us to the 1.618 fib of about $28 (but could go higher - 2.618 or 3.618) ultimately, if we stop out at the 1.618 fib near the $28 level, I expect a retrace and eventual wave 5 to hit at least $42!
These are just my thoughts and you should never make trading decisions based on anything I say, please do your own research.
Cheers!
I love the chart setup here. Appears that we're in the wave 2 of the larger wave 3 setup. This is a great area to get into for larger gains. As long as we hold the $17 area I expect a reversal and subwave 3 of the larger wave three to take us to the 1.618 fib of about $28 (but could go higher - 2.618 or 3.618) ultimately, if we stop out at the 1.618 fib near the $28 level, I expect a retrace and eventual wave 5 to hit at least $42!
These are just my thoughts and you should never make trading decisions based on anything I say, please do your own research.
Cheers!