By counting the subwaves, we see that NEBL has not completed the 5 intermediate waves (blue) within primary wave 3 (pink). Also, NEBL just completed an ABC correction that took the shape of a descending triangle. NEBL is ready to break out. In the case that the breakout fails and forms a WXY correction, we set a conservative and aggressive target.
Comment:
Ignore the first time it hits the stop. If it bounces and then hits the stop, then just stop out.
Comment:
Great time to look for a reentry if you got stopped out
Comment:
It's forming a falling wedge and usually the prices come exploding out of it.