GILD - wave 5 in progress
If this is not a perfect demonstration of Elliott Wave Theory, I don't know what else would be.
- Wave 2 measures exactly 61.8% of wave 1
- Wave 3 is exactly at 161.8% of 1
- Wave 4 is exactly at 38.2% of wave 3.
- Inside zigzag 4, c is exactly 123.6% of a.
- Plus the yellow resistance box failed to break out.
- Plus OBV was going no where when price moved from 64 to 72 (labeled as 4).
It looks like wave i of 5 is forming as a leading diagonal and not a bullish flag (in which case resistance will be broken and stop loss will need to trigger).
Stop loss can be placed very tightly at 72.50
Traditional target for wave 5 is just below 60.
- Wave 2 measures exactly 61.8% of wave 1
- Wave 3 is exactly at 161.8% of 1
- Wave 4 is exactly at 38.2% of wave 3.
- Inside zigzag 4, c is exactly 123.6% of a.
- Plus the yellow resistance box failed to break out.
- Plus OBV was going no where when price moved from 64 to 72 (labeled as 4).
It looks like wave i of 5 is forming as a leading diagonal and not a bullish flag (in which case resistance will be broken and stop loss will need to trigger).
Stop loss can be placed very tightly at 72.50
Traditional target for wave 5 is just below 60.
Note
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.