Seasonality July 24th - Aug 3rd: -3.34% return
Elliott wave: Currently in a 5 wave correction, we either completed the wave 5 or we are currently in it. Expecting a rally either tomorrow or Tuesday to complete the B wave.
Structure: We just completed our first structure to the downside which tell's me there is now upside liquidity. If we break above $44.27 there is a good chance we see $46.50.
If we get rejected at $44.27 look for more downside to the $42- $41.30 for support
If we head higher tomorrow look for a gap up above $43.29 for a long position, if we dont gap above $43.29 odds are we are headed lower
Short term: Down trend
Long Term: Uptrend
Elliott wave: Currently in a 5 wave correction, we either completed the wave 5 or we are currently in it. Expecting a rally either tomorrow or Tuesday to complete the B wave.
Structure: We just completed our first structure to the downside which tell's me there is now upside liquidity. If we break above $44.27 there is a good chance we see $46.50.
If we get rejected at $44.27 look for more downside to the $42- $41.30 for support
If we head higher tomorrow look for a gap up above $43.29 for a long position, if we dont gap above $43.29 odds are we are headed lower
Short term: Down trend
Long Term: Uptrend
Trade closed: target reached