AKBL is most probably in wave C or 3 which has started or is still in wave B.
As per our preferred wave count AKBL is in wave C or 3 which has started to unfold and will take the price down towards 26 - 24 range. We are already active in this trade aggressively, however the cautious way to trade this setup is to wait for a break below 33.40.
Alternately, there is a possibility that we are still in wave B which can unfold with sideward movement or a break above 44.99.
This setup will get invalidated once price break above 42.72.
Trade setup:
Entry price: 38.01
Stop loss: 42.72
Targets:
T1: 26 - 25.80 range
T2: 24.30 - 22.90 range
Let see how this plays, Good Luck!
Disclaimer: The information presented in this wave analysis is intended solely for educational and informational purposes. It does not constitute financial or trading advice, nor should it be interpreted as a recommendation to buy or sell any securities.
As per our preferred wave count AKBL is in wave C or 3 which has started to unfold and will take the price down towards 26 - 24 range. We are already active in this trade aggressively, however the cautious way to trade this setup is to wait for a break below 33.40.
Alternately, there is a possibility that we are still in wave B which can unfold with sideward movement or a break above 44.99.
This setup will get invalidated once price break above 42.72.
Trade setup:
Entry price: 38.01
Stop loss: 42.72
Targets:
T1: 26 - 25.80 range
T2: 24.30 - 22.90 range
Let see how this plays, Good Luck!
Disclaimer: The information presented in this wave analysis is intended solely for educational and informational purposes. It does not constitute financial or trading advice, nor should it be interpreted as a recommendation to buy or sell any securities.
Trade active
Entry price: 38.01Stop loss: 42.72
Targets:
T1: 26 - 25.80 range
T2: 24.30 - 22.90 range
Trade closed: stop reached
Stop loss triggeredEntry price: 38.01
Stop loss: 43 (triggered at)
Loss @ share: 4.99
Gross Loss %: 13.13%
Note
Trade breakdown:As mentioned in my initial trade setup, we were trading this setup aggressively whereas we should have used a cautious approach and waited for a break below 33.40 before short selling.
All trades cannot be winning trades but we should always learn from our mistakes.
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.
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.