CathartesCapital

LHA - UPCOMING TRADE SETUP

Long
XETR:LHA   LUFTHANSA AG VNA O.N
LHA seems to have done a wxy correction down meaning we should expect an impulse up next. I am waiting for a wave 2 correction to finish and then will look to enter a long position. Based off likely wave 2 targets, this trade will have about a 68% upside potential, and if it were to hit SL, the loss would be -24%. At this point just keep an eye on the wave 2 and wait for completion.
This post is for educational purposes, this is not financial advice. Trade at your own risk.

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Comments

Wave 2 should completed? Right
Reply
CathartesCapital bellaSoussa
@bellaSoussa, It's possible we already finished wave 2 but it could also do another wave down:
+1 Reply
bellaSoussa CathartesCapital
@CathartesCapital, thanks for the reply!
So it is better to actually wait...certainly under the actual market situation
Reply
CathartesCapital bellaSoussa
@bellaSoussa, I agree. Wait to see if it does another wave down and finds support around those targets. Otherwise if it breaks past that previous high wave i, then that would be a good confirmation that it finished wave 2.
Otherwise you can take a small position here, add more if it goes down, or add more if it breaks past wave i.
Reply
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