2nd Apr
By breaking lower TL it confirmed the lower targets. Shorting should pay now.
1st Apr
Trade would be
Short at 182.50 or on break of lower TL
Target 161
Stop above 185 for shorts at 182 50
178.75 for TL break shorts
Note : If it moves above 185 this count invalidates and it could be moving much higher and a LONG trade.
27th Mar
I just worked on the wave count of this stock and found it is likely to defeat the classic Pennant pattern discussed earlier.
The stock is in fact doing ABC corrective move. Let us see if the wave count over-rules the classic pattern.
Target 159
Stop > 181.50
A classic Pennant pattern in daily chart.
Break of lower support line can take it to ~161
Break above should head for 185 and then 225
By breaking lower TL it confirmed the lower targets. Shorting should pay now.
.@vermariskyboy Short now with SL of 175.60. If stopped out wait for 176.50 for short with 1Re SL for target of 170/167 #DLF
— EWite (@Stocktechy) April 1, 2014
1st Apr
- Two Possibilities
- Probably that was not the end of Wave B and it is a triangle ending near 182.90 that completes Wave B.
- But if it indeed was Wave B it should break lower Trend Line.
Trade would be
Short at 182.50 or on break of lower TL
Target 161
Stop above 185 for shorts at 182 50
178.75 for TL break shorts
Note : If it moves above 185 this count invalidates and it could be moving much higher and a LONG trade.
27th Mar
I just worked on the wave count of this stock and found it is likely to defeat the classic Pennant pattern discussed earlier.
The stock is in fact doing ABC corrective move. Let us see if the wave count over-rules the classic pattern.
Target 159
Stop > 181.50
A classic Pennant pattern in daily chart.
Break of lower support line can take it to ~161
Break above should head for 185 and then 225
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