JNJ, is shaping up to a great opportunities for long.
We have price impulse to the upside, and now forming a nice correction structure channel.
I am patiently waiting for the last bit of price action to complete to give me extra confluence on a long.
I would like to see price correctively go lower once more and complete the smaller structure within the larger correction.
That would give me the best Risk/Reward to go long to the recent tops.
Alternatively, if price begin its bull run form here, then I would wait for breakout of this larger structure and look for continuation correction in the lower time frame.