### 🌀 **Elliott Wave Structure**
* The stock completed a textbook 5-wave impulse (1 → 5).
* Followed by a complex **ABCDE correction**, ending with a liquidity sweep on Wave (E).
* Current price action is a **bullish breakout** — likely the start of a **new impulsive cycle**.
### 📐 **Fibonacci Extension Target**
* **7.35 = 100% Fib extension** of previous impulse (Wave 1–5), projected from Wave (E).
## 🎯 **Trading Setup**
| **Entry** | Market @ 5.90 |
| **Stop Loss** | Below 4.75 (beneath main OB) |
| **Take Profit** | 7.35 (100% Fib extension ) |
| **R/R Ratio** | \~1:3.6 |
---
> “SALIK finally ripped through resistance like butter. BOS confirmed the bulls are back in charge. That 7.35 target? It’s not just a guess — it’s fib math.”
> *“Fibonacci is the map. Price is the vehicle. Volume is the fuel.”*
---
### ⚠️ **Disclaimer**
> This is not financial advice. For educational purposes only. Always manage risk and use stop losses. Past performance doesn’t guarantee future results.
* The stock completed a textbook 5-wave impulse (1 → 5).
* Followed by a complex **ABCDE correction**, ending with a liquidity sweep on Wave (E).
* Current price action is a **bullish breakout** — likely the start of a **new impulsive cycle**.
### 📐 **Fibonacci Extension Target**
* **7.35 = 100% Fib extension** of previous impulse (Wave 1–5), projected from Wave (E).
## 🎯 **Trading Setup**
| **Entry** | Market @ 5.90 |
| **Stop Loss** | Below 4.75 (beneath main OB) |
| **Take Profit** | 7.35 (100% Fib extension ) |
| **R/R Ratio** | \~1:3.6 |
---
> “SALIK finally ripped through resistance like butter. BOS confirmed the bulls are back in charge. That 7.35 target? It’s not just a guess — it’s fib math.”
> *“Fibonacci is the map. Price is the vehicle. Volume is the fuel.”*
---
### ⚠️ **Disclaimer**
> This is not financial advice. For educational purposes only. Always manage risk and use stop losses. Past performance doesn’t guarantee future results.
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.