Assuming a correction of the last movement to the 38,2% fibo level around 41,2
Level confirmed by the c target of the abc ongoing correction
stop easy under the last lows around 38,5
targets:
either we are in a impulse wave --> target at least 161,8% fibo at 49 (orange scenario)
or we are in ABC correction (red scenario) --> target when AB=BC, around 47
on the middle term we may be in a 4th wave of a bearish movement, therefore this trade is only for short term
A lower low could come on the long term to complete the pattern
see also .tradingview.com/chart/ATO/iLDRPY31-ATOS-looking-for-entry-point/
Level confirmed by the c target of the abc ongoing correction
stop easy under the last lows around 38,5
targets:
either we are in a impulse wave --> target at least 161,8% fibo at 49 (orange scenario)
or we are in ABC correction (red scenario) --> target when AB=BC, around 47
on the middle term we may be in a 4th wave of a bearish movement, therefore this trade is only for short term
A lower low could come on the long term to complete the pattern
see also .tradingview.com/chart/ATO/iLDRPY31-ATOS-looking-for-entry-point/