if market keep is bullish euphorique structure, we are close to start the 3 wave that is extensive.
fundamental:
with covid trubbles and vaccination approval we can see that the probable futur trend will be bullish.
investor tend to go with hot stocks or easy to guest safe heaven sector, in the case of a global pendemie the one industry that cannot suffer from this is the medical and pharmacetical ones.
therfore the probability of a 3 wave arround the corner is really high.
also the wave 2 bounce from the 0.618 golden fib ratio, and wave 2 and 4 tend way more that just often to bounce from fib retracement. guessing a probal wave three from past support and resistance and using again the 0.618 to se were wave 4 should bounce at we have a strong probability to succes this trade.
as we know fib retracement tend to magicaly worked as resistance and support since so many investor/trader have orders at those levels.
entering now in the trade give you a stop loss at 80 so that would be 47 dollar risk/per share to a potential 120 dollar reward/ per share.
i don't know about you but i lile those kind of 3:1 reward to risk ratio.
best regards, patryck trader at richmonstocks funds.
fundamental:
with covid trubbles and vaccination approval we can see that the probable futur trend will be bullish.
investor tend to go with hot stocks or easy to guest safe heaven sector, in the case of a global pendemie the one industry that cannot suffer from this is the medical and pharmacetical ones.
therfore the probability of a 3 wave arround the corner is really high.
also the wave 2 bounce from the 0.618 golden fib ratio, and wave 2 and 4 tend way more that just often to bounce from fib retracement. guessing a probal wave three from past support and resistance and using again the 0.618 to se were wave 4 should bounce at we have a strong probability to succes this trade.
as we know fib retracement tend to magicaly worked as resistance and support since so many investor/trader have orders at those levels.
entering now in the trade give you a stop loss at 80 so that would be 47 dollar risk/per share to a potential 120 dollar reward/ per share.
i don't know about you but i lile those kind of 3:1 reward to risk ratio.
best regards, patryck trader at richmonstocks funds.