TEN trade ideas
Triple break and escape?+Triple resistance break
+RSI bullish break
+bullish divergence RSI
+bullish divergence macd
TS cup with handleTS is going to start the fifth wave at same time it execute a posibble cup with handle
+ bull divergence in RSI
+ bull divergence in macd
(sorry for my english)
Tenaris SA (Ticker: TS) Potential Long playTech analysis based on Elliott wave theory and basic support and resistance figures.
elliott wave theory states the following must occur for the theory to be valid:
1. Leg 2 can not retrace beyond the beginning of leg 1 (confirmed)
2. Leg 4 can not retrace further than the end of leg 1 (in motion not confirmed)
3. Leg 3 can not be the shortest in comparison to leg 1 and leg 5 ( in motion not confirmed)
Note: all three laws must be true in order to confirm a full EW
With support at 29.64 we might see a small micro move upwards before a break further to the downside.
If we can not break 29.64 to continue our 3rd leg down we will violate one of the essential laws voiding the theory by having a 4th leg that supersedes the top of leg 1.
However, this is still considered a downtrend unless we break the trend line.
I would wait to see where leg 3 ends and if we break the support i would consider a call option at the reversal.
TSCandle buyers, followed immediately by candle sellers. And all this in conjunction with overbought.
It is very important to use Volatility Stop indicator. At this level VIX, is needed.
