EFERT is most probably in wave 3 or C of a higher degree wave 4 or A, if our wave count is correct then wave 3 or C is almost ending and prices should take support from 165-160 range level.
Alternately prices can go toward our main buy zone directly i.e. 160-140 range in which the prices might reach 145-140 level easily but our preferred setup suggests that prices will take support around 165-160 range bouncing of the yellow trendline.
We will take a small position at 165-160 level and if prices goes further down we will add more at 145-140 level, based upon our little knowledge we find EFERT fundamentally strong and reasonable at prices around 160-140 but of course cheaper is always better.
If our wave count is correct then we can make around 12% to 21% on this trade.
Trade setup:
Entry price: 165-160
Stop loss: we will update stop loss once prices start to rise from our buy zone
Targets:
T1: 185-195
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.
Alternately prices can go toward our main buy zone directly i.e. 160-140 range in which the prices might reach 145-140 level easily but our preferred setup suggests that prices will take support around 165-160 range bouncing of the yellow trendline.
We will take a small position at 165-160 level and if prices goes further down we will add more at 145-140 level, based upon our little knowledge we find EFERT fundamentally strong and reasonable at prices around 160-140 but of course cheaper is always better.
If our wave count is correct then we can make around 12% to 21% on this trade.
Trade setup:
Entry price: 165-160
Stop loss: we will update stop loss once prices start to rise from our buy zone
Targets:
T1: 185-195
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
Price moved into our buy zone and activated our trade, most probably prices will retrace back toward 165 area or retest 160 before started rising up towards 187-190 rangeEntry price: 160
Target: 185-195 (eyeing 190)
Note
Update:So the prices are not unfolding as expected and are consolidating sideways on minor wave, although our wave count is still valid and possibility of reaching our target is still there, we do not want to hang in this trade any longer because we have plenty of better trades at hand.
As per our minor wave calculation prices should not go beyond 170-173 range, although prices should give one more bounce back up towards 170 level. Alternately if prices reach 160 level, most probably the support level will not hold and prices will decline towards our buy zone of 160-140
Modified Target: 170
Note
Update:Although prices have not taken out our stop loss yet but looking at the current regional situation it is not wise to take bullish positions in such scenarios therefore we will only look forward for bearish scenarios, we have decided to close this position.
Trade closed manually
We have closed this position at 165Enter price: 160
Exit price: 165
Profit @ share: 5
Gross profit: 3.12%
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.