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dukeposh

B | Wave Projection | TFW Bullish Divergence | Ending Diagonal?

Long
BEGISTICS PCL (SET:B)  
dukeposh  
SET:B   BEGISTICS PCL
Trend Analysis Chart Patterns Wave Analysis setindex priceaction elliotwaveanalysis elliottwaveprojection Descending Triangle Ending Diagonal
3
0
trendanalysis chartpattern waveanalysis setindex priceaction elliotwaveanalysis elliottwaveprojection descendingtriangle endingdiagonal
Price action and chart pattern - descending triangle with a bullish divergence pattern in weekly timeframe is considered a strong reversal trading signal.
Wave projection: A possible 5 wave of major A-wave correction coming forming an ending diagonal wave targeting 0.5 - 0.618 fibonanci extension of previous 3-wave downtrend.
Entry: Descending triangle breakout / SMA200W zone
Stop: Lower triangle support -12%-15%
Target: 0.382 - 0.5 retracement of current downtrend A-wave +40% - 50%
Risk reward ratio: 3:1

Always trading with affordable risk and respect your stoploss
Good Luck
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