URTY parabolic move, looking for retracement sub 37
Not the best setup there is; parabolic moves in the market are generally difficult to play, and offer alot of downside to upside. Though there is 5% of upside available in a trade like this, the downside based on previous lows (can crash relatively fast), are around 25%.
The Elliott count could be a 12345 with the primary direction up, and this could have completed wave 3, which would explain the "parabolic" nature. The alternative could be a ABC retracement, with the primary direction down. In my opinion, the case for the downside seems more favorable.
Copyright Rohan Karunaratne 2020
The Elliott count could be a 12345 with the primary direction up, and this could have completed wave 3, which would explain the "parabolic" nature. The alternative could be a ABC retracement, with the primary direction down. In my opinion, the case for the downside seems more favorable.
Copyright Rohan Karunaratne 2020
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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.