Price action and chart pattern trading > Downtrend Elliott channel - ABC Flat Correction - Wave C extension 1.0 of Wave A projection > Projected target primary Wave II with correction subwave V at 1.236 - 1.618 retracement of subwave IV in the price range of 150 - 200. > Long Entry @ local downtrend breakout for 1st entry and Elliott channel breakout for medium and long term trade > 1st target at SMA200 and Primary Wave I as the 2nd target > Stoploss at the lowest position of reversal wave C inverted H&S zone
Indicator: > MACD Slight bullish divergence just crossover signal line below 0
Always trade with affordable risk and respect your stoploss