Novamax Inc (NVAX - NASDAQ) is in 3rd subwave of impulse sequence, where log scale is used to understand the wave structure. It is in 3rd internal wave of 3rd subwave of impulse. Buy in three wave pull back in appropriate waves. The gap in price with huge volume driving it up crazy.
Hey thanks for the analysis. Do you think we’ve corrected and are headed up again?
EWFcw
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@Stkmk, it seems wave 4 was over and price will go up for wave 5, but keep your stops below 126.70 and 5 wave target will be above 152. Good luck.
On one more thing that after getting it, if price stops moving up and start just hovering around then get out of trade as it can extend 4 wave correction.
mykohph
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So you’re saying 160ish down to 140s back up to 180s down to 140s back up to 210s
EWFcw
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@mykohph, the arrows drawn were giving the idea about how price will moves within waves. That doesn't gives the exact levels, but you can buy when three waves pull back in smaller time frame finished in corrections.
mykohph
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I’ve got some options and trying to find the best way to maximize it. Thanks man
EWFcw
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@mykohph, good. You can join my discord to get more trade ideas. If u want.