This is in continuation of our ongoing tracking of POL wave structure.
Prices went below our buying zone of 475 touching 465, taking a cautious approach as the overall market was down, we did not buy at 475-465 area and waited for a bounce up for confirmation. Now the bounce has been significant and if our wave count is correct then we are most probably in wave 4 of an impulse wave of A or B.
This trade setup remains valid until 505 is taken out.
Trade setup:
Entry price: 545 - 530
Stop loss: 504
Targets: 575 - 590
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.
Prices went below our buying zone of 475 touching 465, taking a cautious approach as the overall market was down, we did not buy at 475-465 area and waited for a bounce up for confirmation. Now the bounce has been significant and if our wave count is correct then we are most probably in wave 4 of an impulse wave of A or B.
This trade setup remains valid until 505 is taken out.
Trade setup:
Entry price: 545 - 530
Stop loss: 504
Targets: 575 - 590
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
We have bought shares at 536Entry price: 536
Stop loss: 504
Targets: 575 - 590
Note
The prices have been consolidating sideward way longer then expected, although the wave count remains valid but looking at the wave shape and structure alternate wave count looks more attractive now
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.