Broadcom (AVGO) Will Go Down - Short Setup

📉 Broadcom Inc. (AVGO) – 15 Min Chart, NASDAQ

Here’s a short trade opportunity I’m monitoring:

🔹 Trade Details:

- Entry Zone: $228.06 - $231.70 (Fibonacci 1.236 - 1.382 extension)
- Stop-Loss: $237.60
- Target 1: $214.85 (0.236 Retracement)
- Target 2: $206.21 (0.382 Retracement)
- Extended Target: $192.25 (0.618 Retracement)

🔹 Technical Rationale:

- Price completed a 5-wave move (Elliott Wave structure) and shows signs of reversal at Fibonacci resistance.
- Targets align with key retracement levels.
- Risk-to-reward ratio is highly favorable.

⚠️ Always manage risk with a stop-loss at $237.60. Trade smart and stay disciplined.