$JSEJBL - Jubilee Metals: Golden Ratio Reversal Take-off
The last time I covered Jubilee was in October 2022.
I emphasized that the correction was for wave (4) and the Elliott Wave cycle calls for a 5th wave to complete the impulse move.
I also stressed that the price region of 231 zac to 186 zac was a key Fibonacci retracement zone, marking the 50% to 61,8% retracement of wave (3).
The share seems to have found some buyers and has taking off aggressively, implying that wave (5) is underway.
The invalidation level that wave (5) is underway is a break below 207 zac and should be used as the stop-loss level.
trade:
buy @ market
stop-loss @ 205 zac
take-profit @ 426 zac
I emphasized that the correction was for wave (4) and the Elliott Wave cycle calls for a 5th wave to complete the impulse move.
I also stressed that the price region of 231 zac to 186 zac was a key Fibonacci retracement zone, marking the 50% to 61,8% retracement of wave (3).
The share seems to have found some buyers and has taking off aggressively, implying that wave (5) is underway.
The invalidation level that wave (5) is underway is a break below 207 zac and should be used as the stop-loss level.
trade:
buy @ market
stop-loss @ 205 zac
take-profit @ 426 zac
