WISH, Alternative bearish scenario !

2021년 7월 8일

Is there any alternative bearish scenario for WISH ? Of course there is.

I have published an idea about WISH ( see related link if you are interested) which was the best case scenario and is based on a completed anti cycle Elliott waves (See the left chart) . So far chart did not go well and there is no bullish sign yet.Therefore we have never opened our position. Is it possible to have any other alternative scenario? There are always alternative scenarios.

On the right side of the chart we have a bearish alternative scenario. In this scenario last move up can be considered as a 3 wave ABC form of counter trend correction which can be labeled as wave 2 of a larger cycle Elliott waves means that another down going wave has started and we will see very low prices.

Which scenario is more probable? Both are valid now. We have to watch carefully and trade smartly and always keep in our mind that there maybe always alternative scenarios.

As I always emphasize :

We always trade in the direction of momentum which means that we never go long when momentum is bearish and never go short when momentum is bullish.

We always trade smartly. Don't we?

2021년 7월 8일

노트

You can set:
buy stop: 11.24
Stop loss : 10.25
Reward/ Risk : extremely high

2021년 7월 8일

노트

If you open the position stick to stop loss objectively. We know that bearish scenario is also probable

2021년 7월 14일

노트

WISH lost the last low (Stop loss). Bearish scenario is more probable now.