Will be on lookout for a sell setup. It is possible that we are currently forming a flag (Wave-B) of the third corrective wave. If the structure develops as expected, I will be looking for a lower degree correction to sell the potential C-Wave.
Note
So far, the stock has been behaving as I forecasted. Posting my view on 1 Hour time frame. Now, we are at a region where I will start looking for an opportunity to short. If my view is correct and we get a trade setup (depending on our individual strategies), shorting the stock can give a good risk to reward ratio. Will keep posting an updated view as the chart develops.Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.