ADSK potential Buy setupReasons for bullish bias:
- Price bounce from strong support
- Price respecting long-term trendline
- Safe Entry at LH breakout
- Bullish divergence
- Positive Earnings
Here are the recommended trading levels:
Entry Level(Buy Stop): 224.11
Stop Loss Level: 187.95
Take Profit Level 1: 260.25
Take Profit Level 2: Open
Adsklong
ADSK LONG POSITIONWe just finished 1-5 Elliot Wave, ABC correction and XWY combination, and bounced off of a strong monthly demand zone, we already missed out on an entry, but we can still enter now but our R/R is low, I would suggest waiting for a retrace to an entry zone, because market made tiny gap while bouncing up which should be filled and we should get a good entry.
Entry 192 (After a retrace to entry zone for better R/R, we can enter now, but risk reward ratio is very low)
Invalidation 123 (Just below Demand zone)
Target 1: 260 (50 Fib zone)
Target 2: 299 (Daily gap zone)