TANLA: 1:4 risk-reward – calculated risk for potential fourfold
Between January 2022 and March 2023, TANLA exhibited a sustained downtrend, followed by a notable upward correction. My analysis suggests the formation of an ABC pattern on the chart. The initial phase (A) featured a sharp upward movement, succeeded by a straightforward zigzag retracement (B), and it now appears poised for the concluding C wave.
Having completed the first wave, it retraced beyond the 0.618 Fibonacci level. Entering the market at this juncture with a stop-loss aligned to the B wave could position us favorably for the impending rally. The primary target is set at the third wave, projected to reach 1558, while the ultimate goal entails a 100% retracement of the A wave. This presents an opportune entry point with a carefully placed stop-loss, offering an appealing risk-reward ratio for potential gains.
Having completed the first wave, it retraced beyond the 0.618 Fibonacci level. Entering the market at this juncture with a stop-loss aligned to the B wave could position us favorably for the impending rally. The primary target is set at the third wave, projected to reach 1558, while the ultimate goal entails a 100% retracement of the A wave. This presents an opportune entry point with a carefully placed stop-loss, offering an appealing risk-reward ratio for potential gains.