UnknownUnicorn182749

Sideways to Higher for AET

Long
NYSE:AET   None
This 30m chart of AET shows what looks like an impulsive move higher in progress. Wave 3 extended to the 161.8% Fibonacci extension of Wave 1, increasing the likelihood that it is a trending progression. Now looking for a sideways consolidation in Wave 4 before a push higher in Wave 5. Compared to the sharp, deep retracement of Wave 2, expect Wave 4 to be a triangle or flat that completes at or above the 38.2% Fibonacci retracement level. Initiating a small long position at 188 with the intention of adding if price drops to 185. Immediate profit target at 195. A move below 180 invalidates the setup.
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