rv
Long

MELI (Daily). Cup and Handle.

rv  
NASDAQ:MELI   MERCADOLIBRE INC
161 4 7
1.5 Year Cup and Handle pattern.
Uptrend rising to the pattern, Wolfe Wave topping formation, 1-4 Line,
OBV steady uptrend accumulation from base, Elliot Wave 5, Handle formation and break_out. RSI overbought,
Retest (38.2%-50% retracement) and Long opportunity, 200 measured target.
That's a great pattern you've pointed out! Even looking at it with harmonics and fib levels you see similar confluence of a sell zone close to where it's at with a conservative buy zone at the 382-50 retracement. Thanks for pointing this one out!
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rv Wolverine
many thanks, stock jumped a bit, on beat.
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I noticed that it jumped. Same thing happened to AAPL as well but I had shorted that and it worked out well based off the pattern and an appropriate stop. My chart didn't get attached but I'll try again. Just a different approach. Thanks again for the lesson.
snapshot
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rv Wolverine
thanks for the chart, great view on symmetry, havent noticed that scale myself. No lesson, please :). its mutual observations/ideas sharing.
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