Good day traders,
Here is another easy win. As you can see Nano has corrected nicely off of its high, back down to the .786 retracement from this last impulse wave 1 of (3). Currently it’s being supported by the structure trend line as well as the 200 MA on the 4hr.
If NANO can find the strength to push above the key pivot at 8618, we’ll be looking to soar to new heights. This is a very classic Elliott wave trade where the 2nd wave corrects to .786 of the first wave which signifies the third wave to be at least 2.618 of the first wave. In this case, this 2.618 expansion target happens to be a confluence with the high from February! Hrm… I think we’ve got ourselves a nice trade setup here.
Remember that a break below the structure trend line or the 800hr MA, this idea is dead in the water.
Entry 8150 or above
Stop 8075 or below 800hr MA
Target 17K, start taking profits from 14K and up
R/R ratio: 1:13
Duration: roughly 1 month
As always, good luck and stay safe!
Kinashi San
*For pure fun and joy, not financial advice. Not a recommendation to buy sell or hold.*
Here is another easy win. As you can see Nano has corrected nicely off of its high, back down to the .786 retracement from this last impulse wave 1 of (3). Currently it’s being supported by the structure trend line as well as the 200 MA on the 4hr.
If NANO can find the strength to push above the key pivot at 8618, we’ll be looking to soar to new heights. This is a very classic Elliott wave trade where the 2nd wave corrects to .786 of the first wave which signifies the third wave to be at least 2.618 of the first wave. In this case, this 2.618 expansion target happens to be a confluence with the high from February! Hrm… I think we’ve got ourselves a nice trade setup here.
Remember that a break below the structure trend line or the 800hr MA, this idea is dead in the water.
Entry 8150 or above
Stop 8075 or below 800hr MA
Target 17K, start taking profits from 14K and up
R/R ratio: 1:13
Duration: roughly 1 month
As always, good luck and stay safe!
Kinashi San
*For pure fun and joy, not financial advice. Not a recommendation to buy sell or hold.*
