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ethostrader
Apr 24, 2024 10:22 PM

ESTC - Corrective movement in the downtrend Long

Elastic N.V.NYSE

Description

Alignment and partial compression of multitimeframe fibo clouds signal an increase in the probability of reaching the first target. The final target is a possible bonus with a risk-return ratio of 3. Risk management with realization of the first target and moving the stop loss is an indispensable part of this operation.

Trade closed: target reached

First target reached with partial result of +9.20% in 15 trading sessions. Action required: move stop loss to 100.55 and wait for progress towards second target
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