tradethefifthcom
Long

Earnings Play for TERP - Potential Long 5th Wave

NASDAQ:TERP   TERRAFORM POWER INC
TERP has earnings before the markets open, Friday 1st November. This is an earnings play combined with a potential elliott wave setup. We are using our Elliott Wave Indicator suite for TradingView to setup this potential Long Swing Trading opportunity.

The wave 4 has found support in our probability pullback zones. The rules for our False breakout Stochastic and Elliott Wave Oscillator have also been met. The risk to reward is great into our automated 5th wave target zone, in blue on the chart, with entry for this potential long 5th wave move at 17.24. The stop is just below the wave 4 pivot .

This is an earnings play and we dont want to enter this before Friday 1st November. So we are waiting for a positive earnings reaction pre market on Friday and entry long through 17.24.

Learn more about our Elliott Wave Indicator Suite for Trading View >>HERE<<
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